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Europe braces for costly summer amid heat and Strait tensions
Europe is facing a summer full of challenges, as pressures on energy supplies increase with a 31% rise in gas prices due to tensions in the Strait of Hormuz, which accounts for about 30% of global oil exports. In addition, an unprecedented heatwave is hitting the continent, with temperatures expected to surpass 40°C, raising electricity demand and threatening higher energy bills, as well as impacts on health and the economy. European governments continue to examine measures to ease these burdens and ensure energy security, with a focus on renewable energy sources and efficiency.
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