EU prepares for energy shock

The EU is considering all possible options to prepare for a prolonged energy shock, including fuel rationing and the release of additional oil from emergency reserves, the Financial Times reports.

"This will be a long-term crisis. Energy prices will be higher for a very long time," said EU Energy Commissioner Dan Jorgensen.

The EU Commissioner expects the situation for some of the EU's more critical commodities to worsen in the coming weeks.

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