Daily Management Review

EC is concerned about energy prices amid events in the Strait of Hormuz


07/10/2026


The energy market situation because of events in the Strait of Hormuz is unstable; it has been this way for months, affecting energy prices, stated European Commission (EC) spokesperson Anna-Kaisa Itkonen.



Diego Torres Silvestre
Diego Torres Silvestre
"Currently, there are no worries about the security of supply. Our worry from the start of the conflict has been its effect on prices, and we observe that energy prices are extremely unstable," the spokesperson stated during a briefing in Brussels on Thursday.

She answered a query regarding the EC's measures in response to occurrences in the Strait of Hormuz. "We have conducted numerous meetings from the outset with Member States, stakeholders, industry, and the International Energy Agency to grasp their viewpoints on the circumstances," Itkonen remarked.

She stated that the Oil Coordination Group gathered last week and that there are ongoing extensive discussions regarding this matter.

"Indeed, our primary focus is on prices. Due to the instability of the circumstances, predicting the potential future impact is quite challenging," stressed the EC representative.

source: reuters.com