As the situation in the Middle East continues to be tense and energy supply risks rise, international oil and gas prices have recently risen again, impacting European inflation, consumer consumption, and business operations, bringing new challenges to European economic recovery. ECB economist Christina Barowskate Grishkevichene pointed out a few days ago that rising energy prices are an important driver of the current recovery in inflation in the Eurozone. This round of energy shocks is closely related to the Middle East conflict and the blockage of passage through the Strait of Hormuz. Industry insiders warn that if factors such as disruptions in the supply of liquefied natural gas, lower than expected winter temperatures, or insufficient renewable energy generation are combined, the European energy market may face greater pressure.

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