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Hermes warns of new energy crisis
Europe is currently facing a severe energy crisis due to the rise in oil prices above $100 per barrel and a more than 140% annual increase in gas prices, caused by disturbances in the Strait of Hormuz and the war in the Middle East. This situation is amplifying inflationary pressures and threatening fuel markets and the aviation sector, with data suggesting that the aircraft fuel deficit could reach 510,000 barrels per day in the last quarter of the year, as inventories drop to their lowest levels in seven years. The European Central Bank is confronted with a dilemma: to maintain price stability through tightening monetary policy or to support economic growth. If the conflict persists, oil prices could rise to $130 and gas prices to €130 by the end of 2026.
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