21. The 2026 oil crisis: an opportunity for Europe's energy transition
- Author:
- Valérie Plagnol
- Publication Date:
- 04-2026
- Content Type:
- Policy Brief
- Institution:
- Robert Schuman Foundation (RSF)
- Abstract:
- Seven weeks after the launch of the joint US-Israeli attacks against Iran on 28 February, the damage to regional production facilities and the virtual halt to maritime traffic in the Strait of Hormuz have triggered a rise in crude oil prices of nearly 60% for the WTI index and over 70% for Brent. Despite the two-week truce declared on 7 April, these increases have already had a painful impact on our economies. The duration of the tensions will, of course, determine the severity of the crisis, but the damage has already been done.
- Topic:
- Oil, Armed Conflict, Energy Crisis, and Energy Transition
- Political Geography:
- Europe, Iran, Israel, United States of America, and Strait of Hormuz