There is a war in the Middle East. This has effects for Europe. Prices for oil rise strongly. Gas and diesel also become more costly. Experts warn of a shortage in April. Maybe the state must soon ration fuel. Rationing means: Each person gets only a fixed amount.
Politics reacts to the crisis. The parliament in Austria made a decision. There are oil reserves for emergency cases. The state now releases these reserves. This should calm the market. So there should be enough fuel for everyone.
Banks also watch the situation. Christine Lagarde is the head of the Europe Central Bank. She worries about inflation. Inflation means: Money becomes less valuable. Everything gets more expensive. Lagarde wants to act fast if it is necessary. The bank wants to keep prices stable.
Important company bosses warn of problems. If the war continues, energy is missing. This affects firms and traffic the most. Europe must save energy now. The situation stays difficult in the next weeks. Experts hope prices will calm down.
