French finance minister reaffirms need to improve European energy market

French Finance Minister Bruno Le Maire reaffirmed on Tuesday the need to improve the functioning of the European energy market, as prices soar in the region, putting pressure on consumers. "I know just how much of a concern this is," Le Maire told reporters as he arrived at an EcoFin meeting in Brussels.

Oil prices rose more than $1 on Tuesday to a more than seven-year high on worries about possible supply disruptions after Yemen's Houthi group attacked the United Arab Emirates, escalating hostilities between the Iran-aligned group and a Saudi Arabian-led coalition.