Energy Price Shock From Iran War Exposes Europe's Weakness [Yahoo! Finance]
BASF SE S/ADR (BASFY)
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Source: Yahoo! Finance
President Emmanuel Macron addressed a hall full of executives from heavy industries. He wasted no time in diving into the issue everyone cared most about: Europe's perennially high energy prices. It is, he said bluntly, “a weakness.” Most Read from Bloomberg US Sinking of Iranian Warship Piles Pressure on India's Modi ‘As Dead as Fried Chicken': Why Trump Finally Fired Noem China Tells Top Refiners to Halt Diesel and Gasoline Exports Oracle and OpenAI End Plans to Expand Flagship Data Center BlackRock $26 Billion Private Credit Fund Limits Withdrawals Even before the war in Iran pushed up oil and gas prices and disrupted supplies of key fossil fuels across the globe, energy was a major concern in Europe, where power prices are far higher than in the US and China. Plants have been shut down as costs made them uneconomical, there have been repeated complaints from corporate giants like BASF SE and industries such as steelmaking, and politicians have fretted about how the
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