EU Oil Group Sees No Urgent Supply Security Concerns

TREE NEWS reports: The EU Oil Coordination Group, comprising experts from the European Commission, member states, industry, IEA, Energy Community and NATO, concluded that there are currently no urgent concerns about oil supply security in the EU. While Middle East tensions and geopolitical uncertainty keep fueling price volatility, especially for jet fuel and diesel, current demand is being met by higher EU refinery output and alternative global supplies. However, the evolution of the conflict and seasonal demand trends could tighten the market in coming weeks and months.