business / news / / MarketScreener
Eni CEO Claudio Descalzi: War in Iran and potential closure of the Strait of Hormuz represent "the most significant event of the last 40 years.
Eni CEO proposes suspending the EU ban on Russian LNG if the Strait of Hormuz closes.
KEY POINTS
- Europe faces critical shortages in jet fuel and diesel due to refinery closures and import reliance.
- Diesel shortages have already caused 600 Eni service stations to run out last weekend.
- Physical oil prices in Asia have reached $150 per barrel, far exceeding WTI futures prices.
- A prolonged conflict could force economic recession as the only way to rebalance oil supply and demand.
COMPANIES
Summarized by Newsio from MarketScreener. How we summarize →