Overview

• Brent crude has climbed to around $74 per barrel and could exceed $80 if the conflict intensifies further
• ADAC figures show German diesel prices rose by 3.9 cents to €1.589 per litre and Super E10 by 2.4 cents to €1.692
• Iran’s threats to block the Strait of Hormuz, which carries about one-third of global oil exports, have stoked fears of significant supply shortages
• Maritime coordinator Christoph Ploß warned that a blockade would endanger vital sea-borne trade routes critical to Germany’s energy security
• The Green Party has criticised the government’s fossil fuel policy and urged a rapid transition to renewables and efficiency measures