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French Minister clarifies comments on oil shock

Paris, March 25 (Prensa Latina) Economy Minister Roland Lescure was forced to clarify his comments from yesterday regarding an oil shock as a consequence of the war in the Middle East, specifying that this is not the case for France.

According to the BFM TV network, the minister’s office issued the correction amid a local and global scenario marked by uncertainty, particularly in the energy sector, due to the rise in the price of so-called black gold.

Yesterday, Lescure had warned the National Assembly’s Finance Committee about the existence of another oil shock and the risk of its impact becoming embedded in the global economy due to a possible prolongation of the ongoing conflict.

The minister raised issues of supply and their potential consequences for France as well, a situation on everyone’s mind due to the events in the Strait of Hormuz.

The United States and Israel attacked Iran on February 28, prompting Iran to respond with attacks against Washington’s allies and interests in the region and to close the strategic waterway through which approximately 20% of the world’s oil production passed daily before the war.

Benchmark crudes, such as Brent, have surpassed $100 a barrel, generating significant concern among consumers, with rationing measures beginning to appear in various countries.

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