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France 24

Brussels urges EU states to 'coordinate' in face of oil price hike

France 24 · Recent
France 24
France 24
Recent

The European Commission has urged EU member states to make "timely and coordinated preparations" to secure oil supplies in the face of surging energy prices caused by the Middle East war. U.S.-Israeli attacks on Iran and Tehran's retaliatory strikes have roiled markets and triggered a surge in energy prices.

Breakdown
  • EU energy ministers met as oil prices surged across Europe
  • Poland subsidized gas, monitoring for cross-border 'fuel tourism' 13s
  • Germany opted against subsidies; France and Italy offered targeted relief 44s
  • Economists warn subsidies distort markets and may slow growth 1m 8s
  • G7 ministers pledged to stabilize prices but fear financial risks 1m 43s
EnergyInternational Politics