Middle East Crisis Impacts Europe's Economy and Energy Shift
The ongoing crisis in the Middle East is significantly impacting Europe's economy, leading to slumping growth and surging prices. Concurrently, there's a notable shift in energy consumption, with many LPG users transitioning to PNG.
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Iran war squeezes Europe’s economy as growth slumps, prices surge
Europe’s economy is slowing sharply as the Iran war drives up energy costs, deepening pressure on households and challenging policy makers. Fresh data for May showed euro zone business activity contracted at its fastest pace in more than two years while inflation pressures intensified, raising fears of a prolonged cost-of-living crunch and possible recession.
By FRANCE 24
Read full article →Middle East crisis: 58,500 LPG users shift to PNG, 96% deliveries verified
Amid Middle East tensions, the government assures stable LPG supplies with 96% DAC-based deliveries and 99% online bookings. Adequate petrol, diesel, and LPG stocks are available nationwide. Citizens are urged to avoid panic buying and conserve energy, with over 5,000 raids conducted against hoarding. Maritime operations remain normal, and all Indian seafarers in the Gulf are safe.
By TOI BUSINESS DESK
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