EU monthly oil import costs in the second quarter of 2026 rose 55.8% year-on-year to 27.6 billion euros, Euronews reports. At the same time, the physical scope of the supply increased by only 1.2%, to 36.7 million tons per month. The sharp increase in costs is due to an increase in the cost of a ton of oil from 487 to 750 euros due to the blockade of the Strait of Hormuz.

EU monthly oil import costs in the second quarter of 2026 rose 55.8% year-on-year to 27.6 billion euros, Euronews reports. At the same time, the physical scope of the supply increased by only 1.2%, to 36.7 million tons per month. The sharp increase in costs is due to an increase in the cost of a ton of oil from 487 to 750 euros due to the blockade of the Strait of Hormuz.