EU warns of new energy crisis
The European Union has warned that conflicts in the Middle East could trigger a new energy price crisis.
EU Energy Commissioner Dan Jørgensen urged member states to consider measures to reduce natural gas and electricity demand and to replenish gas storage facilities ahead of winter.
EU gas storage levels currently stand at just over 70%, compared with a seasonal average of 86%. Jørgensen said lowering the current 90% storage target to 80% could help ease short-term pressure on energy prices and storage costs.
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