Europe's Energy Crunch: Iran Conflict's Impact

0:00It's April 1st. You're listening to Global News today, AI-powered coverage from around the world. I'm Cory with the story. Europe's staring down another energy crunch, folks, as the Iran conflict slams the brakes on Middle East oil and gas. Iran shut the strait of Hormuz to ships after U.S. and Israeli strikes, and gas prices across the continent have jumped over 70 percent since late. February. Those last-carocene loads slipping through before the closure should hit European ports around April 10th, buying a little time on jet fuel. But airline bosses like Ryanair's chief are already sounding alarms about supply hiccups come May, with risks of spot shortages popping up. EU energy ministers huddled virtually this week, and the commissioner floated dusting off the 2022 playbook from the Russia gas. Cut off thing price caps, profit taxes on energy firms, and demand cuts. Even if the fighting wraps quick, don't expect normalcy anytime soon. They're pushing work from home bives, slower speed limits, more buses in car, pools while

1:04swearing off Russian gas to avoid old traps. Stay tuned as this heats up.