Iran launched another round of overnight strikes on tankers and Gulf energy infrastructure, sending Brent crude back above $101/bbl and sparking fears that chaos in the Middle East has triggered what the IEA warned could be the largest-ever supply disruption in the history of the global oil market.
"The war in the Middle East is creating the largest supply disruption in the history of the global oil market," the IEA said on Wednesday.
With the record release of SPRs by IEA members announced on Wednesday, failing to halt Brent from re-entering triple-digit territory, Denmark's energy minister issued a dire warning to citizens across the Scandinavian country, urging them to immediately conserve fuel and electricity.
"What the Danes should please, please, please do is, if there is any energy consumption that you can do without—if it is not strictly necessary to drive the car—then don't do it," Lars Aagaard, Denmark's minister for climate, energy, and utilities, told local broadcaster DR in an interview earlier today, quoted by CNBC.
Aagaard said energy shock has driven the country to rely on its oil reserves amid "towering oil prices," with no end to the conflict in sight.
We detailed the overnight chaos across the Gulf region in our geopolitical wrap titled, "Sixth Ship Struck: Oil Tops $100 As Tanker Attacks Escalate Hours After Trump's 'We Won.'"
"Firstly, it can be felt in the private wallet, and secondly, it can help stretch our reserves so that they last longer," Aagaard said.
Related:
Energy conservation warnings have also emerged in the U.K., Vietnam, and the Philippines as governments and industry groups try to curb fuel demand and protect domestic reserves to weather the energy crisis.
https://www.zerohedge.com/energy/please-please-please-denmarks-energy-minister-urges-citizens-stop-driving-global-energy
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.