Is Europe heading to an energy crisis?
Europe is bracing for a supply crunch and a price shock as the Iran conflict drags on.

Europe is bracing for a supply crunch and a price shock as the Iran conflict drags on.








![This frame grab, taken from video from Belarusian state-owned news outlet Pul Pervogo, shows Belarus' President Alexander Lukashenko watching as North Korean leader Kim Jong Un holds a rifle gifted to him by Lukashenko in Pyongyang. [Pul Pervogo/AFP]](/wp-content/uploads/2026/03/image-1774548190.jpg?resize=770%2C513&quality=80)
Iran has blocked the passage of vessels carrying 20 percent of the world’s oil and liquefied natural gas supplies.
As Ukrainian drones rain down, authorities have implemented blackouts citing ‘security concerns’.
Shortage of helium will have ripple effects across medical and other industries.
Germany’s defence minister, Boris Pistorius, says the economic impact of the war is “absolutely evident”.
Most people killed in Iran’s Gulf attacks have been from South Asia. And entire economies back home are on edge.
Brent crude tops $104 a barrel as hopes fade for deescalation in US-Israel war on Iran.
Malaysia’s government plans to slash the number of foreign workers to encourage local hiring and raise incomes.

Cabbage farmers in the Philippines are harvesting their crops at a loss as prices plunge and fuel costs soar.
A California jury awarded the plaintiff $3m in damages in the case
A California judge says US DoD may be ‘attempting to cripple Anthropic’ for pushing for restrictions on AI weapons.