Iran War Drives Up Energy Costs for European Industry
Rising energy costs and supply disruptions from the Iran war are forcing European manufacturers to cut jobs. Companies are raising prices as oil nears $120.
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European Industrial Heartlands Face Compounding Crises Amid Middle East Conflict
Martina Nighswonger, the owner of the chemical firm Gechem, is finding herself with fewer options as global instability continues to pressure the European industrial sector. Based in Germany, her company has spent years navigating the fallout from the global pandemic, skyrocketing energy costs following the invasion of Ukraine, and significant trade tariffs. Now, the escalating conflict involving Iran is delivering another blow to raw material costs.
