EU Energy Chief Warns Iran War Fuel Price Shock Will Persist
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The EU energy chief warned that even if the Iran war ends, oil and gas prices will not immediately return to normal and the resulting price shock will persist. On April 2 U.S. crude jumped about 11.6% to $111.77 (with an intraday high near $114) and Brent rose 7.6% to $108.84 after hopes for a quick end were dented by President Trump’s April 1 speech, sparking equity volatility and heavy losses for airlines and travel companies dependent on jet fuel.