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Europe Faces Energy Crisis Amid Middle East Turmoil

3/20/2026

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Summary

Story summary

On March 19, 2026, Europe faced an energy crisis after military attacks on critical infrastructure in Qatar and Iran.
The Dutch TTF price exceeded €70 per megawatt hour (US$80).
Brent crude rose above US$114 per barrel, up more than 50 percent since late February.
French Energy Minister Maud Bregeon said 90% of diesel consumed in France is refined outside the EU, highlighting Europe’s reliance on foreign energy.

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Story summary

On March 19, 2026, Europe faced an energy crisis after military attacks on critical infrastructure in Qatar and Iran.
The Dutch TTF price exceeded €70 per megawatt hour (US$80).
Brent crude rose above US$114 per barrel, up more than 50 percent since late February.
French Energy Minister Maud Bregeon said 90% of diesel consumed in France is refined outside the EU, highlighting Europe’s reliance on foreign energy.