EU Scrambles to Contain Energy Price Crisis Ahead of Winter

AI Summary

EU energy ministers are meeting to address a worsening energy price crisis as winter heating demand approaches. High natural gas prices and diesel shortages following refinery closures have intensified concerns about energy supply and costs.

The energy ministers of EU member states are meeting today to discuss how to tackle a worsening energy price crisis as winter approaches, and with it, peak heating demand season. The meeting follows reports from Wednesday citing Energy Commissioner Dan Jorgensen as saying a series of refinery closures in EU member states over the past 20 years was a mistake as the diesel squeeze pushes prices to all-time highs. Natural gas prices in the EU, meanwhile, touched 100 euro per MWh on Wednesday, contributing to the sense of urgency. “We are in…