Turkey's Energy Strategy Amid Middle East Tensions

Turkey is confident it can maintain stable oil and gas supplies for domestic needs, despite escalating tensions between Israel and Iran, according to Energy Minister Alparslan Bayraktar.

Speaking to reporters late Monday, Bayraktar noted that while Turkey may have to substitute for Gulf crude oil, which accounts for 20% of its total supply, if shipping through the Strait of Hormuz is blocked, the country does not foresee any major supply security issues for oil and natural gas.

However, he cautioned that energy prices could potentially rise amid the ongoing geopolitical conflict.

(With inputs from agencies.)