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

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.

Newsquawk StaffPublished 31 Mar 2026, 16:07 UTCOn the live feed at 15:47 UTC — 9 more headlines followed before this page went public

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15:48

US President Trump posts McLaughin polls on his Truth, whereby a wide majority approve his decision to use military force in Iran to remove Khamenei and his terrorist regime in order to stop nuclear weapons and ballistic missile programme

15:48

US President Trump considers ending Congress's two-week recess for a rare special session to end the DHS shutdown

15:47

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

15:44

Cyprus Energy Minister says EU Ministers confirmed today that the EU energy supply remains relatively safeguarded from Iran war impact; EU energy ministers agreed that measures to address crisis must be coordinated

15:37

Inpex will supply Japan with fossil fuels from Australia on a priority basis as the Strait of Hormuz blockade threatens shipments from the Middle East, Nikkei reports

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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

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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