Three EU Nations Urge New 2040 Renewable Energy Goal

Spain, Portugal, and Luxembourg have called on the European Union to establish new renewable energy targets for 2040, aiming to accelerate clean energy adoption. This initiative seeks to reduce the bloc's reliance on imported fossil fuels and mitigate risks from geopolitical disruptions, such as the blockage of the Strait of Hormuz. Energy ministers emphasized the need for swift action due to current global uncertainties. This long-term shift in EU energy policy could gradually influence global crude oil demand, potentially impacting its price trajectory, which in turn can indirectly affect investor sentiment towards gold and the PKR.

بحوالہ / Source: oilprice.com