Gulf Conflict Hits Europe’s Energy Supply
The Iran fallout is now being felt across Europe, with energy markets reacting sharply to supply risks in the Gulf. Europe relies on the region for a significant share of its energy needs, including nearly half of its jet fuel. That exposure is now pushing costs sharply higher. Jet fuel prices have more than doubled to record levels, forcing airlines to cut flights and raise fares, especially on long-haul routes.
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