The European Commission is urging EU member states to make timely preparations to secure oil supplies amid a surge in energy prices caused by the Middle East war. The US and Israel's attacks on Iran have triggered market volatility. EU officials are calling for coordinated efforts to address the crisis.

The European Commission on Tuesday urged EU member states to make "timely and coordinated preparations" to secure oil supplies in the face of surging energy prices caused by the Middle East war. US-Israeli attacks on Iran and Tehran's retaliatory strikes have roiled markets and triggered a surge in energy prices.