Middle East tensions and fears of the Strait of Hormuz closure push fuel prices higher in Germany, renewing interest in heat pumps as an alternative heating solution.
Dan Jorgensen said Europe could face its worst winter since 2022 amid record energy prices and possible supply disruptions from the US, TASS reports.
Despite higher costs across flights, lodging and fuel, Americans continued to book trips, according to CNBC, which suggests a similar pattern may carry into the fall travel season.
French motorists are reportedly flocking to TotalEnergies stations as the energy giant maintains gasoline prices below the national average, prompting competitors to allege unfair competition backed by government support.
Kirill Dmitriev, a Russian presidential envoy, said elevated European gas prices stem from what he called 'globalist ideology,' according to Russian state news agency TASS.
Russian President Vladimir Putin said traders' reliance on cheaper stored gas could push European prices sharply higher, according to TASS.