Global energy crisis (2021-present)

The 2021–2023 global energy crisis began in the aftermath of the COVID-19 pandemic in 2021, with much of the world facing shortages and increased prices in oil, gas and electricity markets.

The crisis was caused by many factors, including the fast post-pandemic economic recovery and the Russian invasion of Ukraine. The price of natural gas reached record highs, and so did electricity in some markets.

Oil prices hit their highest level since 2008.^[1]

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