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EU Faces 'Largest Oil Supply Disruption in History', Energy Expert Says
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4 Articles
EU faces 'largest oil supply disruption in history', energy expert says
Speaking with FRANCE 24's Sharon Gaffney, Francesco Sassi, Assistant Professor at the University of Oslo and energy geopolitics expert, says that the Iran war has provoked "the largest oil supply disruption in history" adding that "what is really concerning is that national governments will start to unilaterally take action, subsidising energy consumption or act to secure energy supplies, and this will inevitably increase the cost of natural gas…
Despite the almost total stoppage of traffic in the Strait of Ormuz, France is currently avoiding shortages thanks to alternatives, says Olivier Gantois, president of the French Union of Petroleum Industries (Ufip), energy and mobility and spokesman for oil tankers in France.
This was said by the oil market specialist Luis Bolomo, who later added: “The attitude that Iran has taken towards the virtual closure of the Strait of Ormuz is what generates two types of problems.” Read more
Largest Supply Disruption In the History of the Global Oil Market - Energy News Beat
Brent crude prices surged from approximately $73 per barrel pre-crisis to peaks near $120 in just 10 days following the effective closure of the Strait of Hormuz on March 4, 2026. The International Energy Agency (IEA) has described this as the “largest supply disruption in the history of the global oil market,” with Gulf producers curtailing at least 10 million barrels per day (mbpd) of output as tanker traffic through the world’s most critical …
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