EU Energy Commissioner Jorgenson says Iran war has added EUR 14bln to EU fossil fuel import bill so far; we see tightening in diesel and jet fuel market; energy consequences of Iran war will not be short-lived
- Says the energy consequences of Iran will not be short-lived.
- Do see tightening in diesel and jet fuel markets.
- The upcoming toolbox will include proposals on lowering tax rates for electricity and grid tariffs.
- Will make rules on state aid simpler to help the energy-intensive industry.
- Stand by its ban on buying Russian gas.
Context
The comments from EU Energy Commissioner Jorgenson highlight the ongoing impact of the Iran war on European energy costs, significantly raising the import bill and indicating persistent pressures in diesel and jet fuel markets. This suggests potential for sustained inflation in energy prices, affecting both European consumers and broader market sentiment, particularly regarding commodities linked to energy.
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