EU Monitors Oil and Gas Markets Amid Strait of Hormuz Concerns

LootboxPhobia · 2026-03-13T08:54:33+00:00

The European Commission and member states are coordinating to assess the oil and natural gas markets, with no supply security risks currently identified. The EU has high oil reserves and stable natural gas storage, but would reassess supply security if the Strait of Hormuz were to close for an extended period.

LootboxPhobia

2026-03-13 08:54:33

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Investing.com – According to the official statement released on Friday, the European Commission and EU member states are coordinating efforts to assess the state of the oil and natural gas markets.

During the discussions, EU countries confirmed that no supply security risks have been observed at this time.

Oil inventories across the EU remain high, and the EU’s natural gas storage levels are stable.

The EU stated that if the Strait of Hormuz experiences a prolonged closure or further disruptions, the security of oil and natural gas supplies will be reassessed.

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