Global Energy Crisis Impacts Europe

The closure of the critical oil choke point by the US Navy has sent global energy markets into a tailspin, with Brent crude nearing $100 again.

European airlines are already war-gaming for potential cancellations as early as the late May bank holiday.

IEA Director Fatih Birol stated that it could take up to two years for supplies to return to pre-war levels.

The crisis is also driving up household electricity bills across the continent, prompting calls for government intervention.