Oil accounts for a large share of the energy consumed in the EU, but the EU member states do not house any large oil reserves. This is why the EU imports almost all its crude oil (around 97% in 2024).

MUMBAI, April 17 (Reuters) - Indian banks have halted gold and silver import orders from overseas suppliers, with tons of the metals stuck at customs as a formal government order ‌has not been issued ...

WASHINGTON, April 15 (Reuters) - U.S. import prices increased less than expected in March, though the trend still pointed to firming imported inflationary pressures as the Middle East conflict boosts ...