00:00European Union governments are being urged to prepare for a prolonged disruption to energy markets as the Iran conflict continues
00:07to impact global supply.
00:09In a letter to energy ministers ahead of an emergency meeting, EU Energy Commissioner Dan Jorgensen called for timely preparations
00:17to manage potential shocks.
00:20Jorgensen also warned governments against measures that could worsen the situation, including policies that increase fuel demand or disrupt refinery
00:29output.
00:30Europe remains highly exposed to global price swings due to its reliance on imported energy, with gas prices surging more
00:37than 70% since the conflict began in late February.
00:41While direct supplies of oil and gas have not been severely disrupted, the bloc is increasingly concerned about shortages of
00:48refined products such as diesel and jet fuel.
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