🇮🇷🇸🇦 The IEA’s boss doesn’t think energy markets will be back to normal next year.
Oil shot up to $117 a barrel on Friday after more Houthi attacks on Saudi Arabia, the highest in almost 6 months, and it’s still about 59% pricier than before the war.
He says these prices might be manageable for some countries in Europe, but for a lot of others, oil near $120 is hitting their trade deficits hard.
And winter’s coming, so diesel demand for heating goes up just as several refineries go through their usual maintenance.
Europe’s gas supply is getting squeezed too, since it cut Russian imports and Qatar and the UAE can’t export as much as before.
So it’s gonna be a cold, pricey winter for plenty of countries.
Source: Reuters / Writer: Daniyal
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Rafa @rmbdas17 ·
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@MarioNawfal Oil at $117 and the IEA is basically saying get comfortable? 😬
Regular's $4.29 a gallon nationwide today per AAA. A year ago it was $3.05. That's a 40% jump.
Real glad the Model X doesn't drink any of it.































