By Marta Vilar – MADRID (Econostream) – European Central Bank President Christine Lagarde said on Tuesday that the surge in energy prices linked to the Middle East conflict would have “ripple effects” within months.

In an episode of the podcast "In Good Company with Nicolai Tangen," Lagarde described the volatility triggered by the Iran war as “unprecedented,” noting that oil prices swung by around ±30% in a single day.

The conflict had caused “[d]isruption in shipping, disruption in insurance costs and significant increases in the price of energy, which as we know is necessary for all economies and has ripple effects in a matter of months,” she said.

Lagarde also said that advancing the green transition remained in Europe’s long-term interest, adding that nuclear energy efforts could accelerate further.

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