EU leaders are meeting in Brussels, Belgium, on March 19-20 for a summit dominated by the fallout from the Iran conflict, particularly emergency options to curb surging energy prices, Politico reported on March 19, citing draft EU documents.

The debate unfolds as European energy markets have been hit by fresh disruption in the Gulf. Following Iranian strikes on Ras Laffan in Qatar, Dutch front-month TTF gas futures briefly rose above 72 euros ($83) per megawatt-hour before easing to just below 65 euros on March 19, while Brent crude climbed to around $115 a barrel. These recent disruptions are compounding ongoing pressure from tanker disruptions in the Strait of Hormuz and Middle Eastern production cuts.