The EU spent an average of $30.7 billion a month on oil imports from April to July, up from $19.7 billion a year earlier, after the Hormuz closure lifted prices. Volumes rose just 1.2%, so price drove the jump. #EU#OilPrices#Hormuz#Energy
The EU will make no new climate finance commitments at COP31, climate commissioner Wopke Hoekstra said, calling more pledges "dead in the water" as soaring fuel and gas prices strain EU budgets and subsidies. #COP31#ClimateFinance#EU#Energy
EU energy ministers meet today on a worsening energy price crisis as winter nears. EU gas touched 100 euros per MWh on Wednesday, and storage sits near 75% versus over 80% on average over the past five years. #EU#NaturalGas#Energy#Europe
The EU is preparing curbs on Chinese chemicals, furniture and machinery imports, per Bloomberg, to shield struggling manufacturers and narrow a $404B trade deficit with China. A cap on Chinese hybrids could follow in December. #EU#China#Trade
The EU's new Arctic strategy says Arctic oil and gas should 'stay in the ground', even amid a severe fuel crisis and soaring gas prices before winter. One shift: the word 'moratorium' is gone, which Norway welcomed. #EU#Arctic#NaturalGas#Oil
