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\n Published on
\n 22\/04\/2026 – 18:12 GMT+2\n <\/p>\n
The European Union\u2019s leading energy official cautioned on Wednesday that the severe energy crisis triggered by the United States and Israel against Iran is likely to drive up prices for months, if not years.<\/p>\n
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EU Energy Commissioner Dan J\u00f8rgensen emphasised that the impact will be long-lasting, rather than a brief or minor spike in costs.<\/p>\n
He noted that the war is costing Europe \u20ac500 million (about $600 million) per day, warning that \u201cvery difficult months, or possibly even years\u201d lie ahead.<\/p>\n
The sudden loss of 20% of global oil and natural gas exports through the Strait of Hormuz<\/a> has unleashed price volatility, even if EU countries manage to secure energy supplies.<\/p>\n Speaking to reporters, J\u00f8rgensen added that EU governments remain \u201cvery worried\u201d about potential jet fuel shortages, particularly with the busy tourism season approaching.<\/p>\n \u201cEven in a best-case scenario, it\u2019s still bad,\u201d he said about the current crisis, noting the damage done to energy infrastructure in the Middle East and how long it would take to fix it and restart production to levels prior to the conflict.<\/p>\n J\u00f8rgensen’s remarks came one day after European transport ministers shared plans to secure jet fuel supplies from the United States<\/a> amid potential shortages across the continent, even if EU leaders maintain that supply security is currently safe and potential shortages could be felt differently across member states.<\/p>\n The Commission announced on Wednesday a new ‘fuel observatory’ to monitor jet fuel stocks and prevent EU countries from hoarding fuel at others’ expense. <\/p>\n The International Energy Agency recently warned that jet fuel in Europe was in short supply, a claim backed by several European airlines, which said it could lead to flight cancellations<\/a>. <\/p>\n