The closure of the Strait of Hormuz by Iran has led to a surge in crude oil and natural gas prices, prompting European leaders to seek solutions to avoid an energy crisis. While the closure won't completely cut off oil supply to Europe, it will disrupt markets and increase prices. Alternatives like the Saudi East-West pipeline and the UAE's Habshan-Fujairah pipeline exist, but they have limitations. The situation is exacerbated by military tensions and shipping insurers withdrawing coverage. Europe is exploring various alternative sources for oil, including North Sea production and Latin American suppliers. Teljes cikk (Euronews.com)