Brussels,March 5 (SANA) The European Commission said on Wednesday that the EU faces no immediate risk to its oil and gas supplies despite turmoil in the Middle East.
The Commission said in a statement that EU countries have not needed to tap additional oil reserves, with stockpiles remaining high and gas storage levels stable.
It added that it is monitoring developments and coordinating with member states and market players.
The closure of the Strait of Hormuz has disrupted global energy markets as military tensions between the U.S.–Israel alliance and Iran escalate. Oil prices rose about 1% on Wednesday.
MHD
