Gulf-Eurasian energy crunch pushes Europe to the edge of an inflationary crisis

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Europe will be counting on luck as much as policy to face a mounting energy crisis fuelled by wars in Iran and Russia-Ukraine Europe’s oil and gas supply is now disrupted by conflicts in both the Gulf and Eurasia. On Friday, Saudi Arabia told European refineries to not expect any crude oil deliveries next month. The continent will need as much good fortune as foresightful policy to withstand the evolving energy crisis. Conflicts on the periphery of the European Union, the Eastern Mediterranean,