EU Scrambles to Contain Energy Price Crisis Ahead of Winter
The energy ministers of EU member states are meeting today to discuss how to tackle a worsening energy price crisis as winter approaches, and with it, peak heating demand season. The meeting follows reports from Wednesday citing Energy Commissioner Dan Jorgensen as saying a series of refinery closur
Source: OilPrice.com
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DW NOTE
The Strait of Hormuz has been effectively closed since late October, cutting the normal flow from 85 ships per day to 2. That's not a crisis ahead of winter — it's a crisis that arrived in late summer and is still running. The EU's scramble is six weeks late.