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flag EU sees no immediate energy threat but monitors Strait of Hormuz risks as oil prices surge after Iranian strikes.

flag The EU’s Gas and Oil Coordination Groups reported no immediate threats to energy supply on March 12, citing high oil stocks and stable gas storage, with existing rules providing sufficient flexibility. flag They acknowledged the IEA’s voluntary 400-million-barrel oil release but called for long-term impact analysis. flag The EU will reassess if the Strait of Hormuz remains closed or tensions escalate. flag Upcoming meetings are set for March 19 and 26. flag Meanwhile, U.S. LNG exports from Plaquemines were approved, and recent attacks on vessels underscore ongoing maritime risks in the region. flag Oil prices rose 6% due to Iranian strikes, including one that damaged Oman’s Salalah port.

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