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via fortune.comEconomy

Hormuz closure has cost Europe an extra $142 billion for the same energy

FROM THE WIRE · FORTUNE.COM

Ursula von der Leyen told a Brussels startup summit importing oil and gas means importing “the shocks and crises that come with them."

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MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bearishHigher European energy costs weigh on the economy and inflation expectations.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01The Hormuz closure has raised Europe's energy costs by $142 billion.
  2. 02Ursula von der Leyen said importing oil and gas means importing the shocks and crises that come with them.
  3. 03She made the remarks at a startup summit in Brussels.

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