CERAWEEK: TotalEnergies CEO warns oil, gas prices could surpass 2022 highs if Hormuz crisis holds

Global oil and gas prices could surge above the multi-year highs seen in 2022 following Russia’s invasion of Ukraine if energy shipments via the Strait of Hormuz do not resume in the coming months, according to the CEO of Total Energies, Patrick Pouyanne. With some 20% of global crude exports and LNG capacity stranded in the Persian Gulf, the situation could eclipse the severity of Europe’s 2022Global oil and gas prices could surge above the multi-year highs seen in 2022 following Russia’s invasion of Ukraine if energy shipments via the Strait of Hormuz do not resume in the coming months, according to the CEO of Total Energies, Patrick Pouyanne. With some 20% of global crude exports and LNG capacity stranded in the Persian Gulf, the situation could eclipse the severity of Europe’s 2022Read More