00:00Global oil prices have surged over US$100 per barrel for the first time in four years
00:05as the US escalates its war in Iran.
00:08One third of Taiwan's liquefied natural gas comes from Qatar, but the country has halted
00:12production, sparking fears of a massive energy crunch in Taiwan.
00:16The Taiwanese government has moved to reassure the public, saying there will be no natural
00:20gas shortage before April.
00:22Along with state-owned energy supplier CPC, they say they will work together to keep prices
00:26stable.
00:27Some analysts say this will stabilize prices in the short term, but may not be sustainable
00:32if the war drags on.
00:34The problem is, if we look at the long term, we have over 90% of our products in Taiwan.
00:51CPC also announced a price hike of about 5%, with the government absorbing 70% of oil.
00:57the impact.
00:57People in Taipei already seen higher prices at the pump.
01:12On Tuesday, Taiwan's main index, the TAI-X rebounded more than 3%.
01:16On Tuesday, Taiwan's main index, the TAI-X rebounded more than 3%.
01:30after plunging more than 4% the day before.
01:33This boost of confidence signals hope that the oil price spike will end soon.
01:37But lawmakers and consumers will be watching.
01:40But lawmakers and consumers will be watching.
01:40Have a good day.
01:42Have a good day.
01:42I hope you enjoyed this video.
01:43Have a good day.
01:43Have a good day.
01:44Have a good day.
01:44You
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