EU warns energy crisis from Iran conflict will be prolonged

Investing.com -- The European Union said Wednesday that the energy crisis stemming from the Iran conflict is expected to continue for an extended period.

EU Commission spokesperson Anna-Kaisa Itkonen told reporters that approximately 8.5% of the bloc's liquefied natural gas, 7% of its oil, and 40% of its jet fuel and diesel pass through the Strait of Hormuz. Iran has largely blocked access to the strait during the war.

"What we can already foresee is that this crisis will not be short-lived," Itkonen said. "It's a very, very important choke point, obviously."

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