Shell CEO commented on the state of the energy crisis in Europe.

The energy crisis in Europe is finally over - Shell leader

Shell CEO Wael Sawan believes that the energy crisis in Europe is finally over. According to the Financial Times, the head of the British oil giant noted that market prices and volatility are returning to the level before Russia's full-scale invasion of Ukraine in February 2022.

"We have seen that in this quarter in the energy complex, perhaps more than in any of the previous ones in recent times, we are returning to normalized prices and margin levels that were before 2022," Sawan said.

Gas, crude oil and electricity prices have decreased and become more stable, he added. "We are creating space to have more money and decide what we want to do with it. And we continue to prepare ourselves for what I am sure will be a non-linear, unstable energy transition. We strive to maintain consistency not only in good times but also in some of the more difficult times," he said.

Source: Economic Truth