Even though energy security has been a hot topic of discussion for a while now, it was only in recent years that Europe started taking it seriously. A quick look at this week’s relevant stocks will once again highlight the cost volatility of modern manufacturing reliant on fossil fuels. Oil prices surged almost 5% compared to last Wednesday to reach a four-month high, driven by a combination of factors including lower crude exports from Iraq and Saudi Arabia and attacks on Russian energy infrastructure. Iraq announced its intention to reduce crude exports to 3.3 million barrels per day in the coming months to comply with its OPEC+ quota, while Saudi Arabia saw its crude exports decline for a second consecutive…