IEA

Disruptions in the Strait of Hormuz and a lingering fallout from Russia’s war in Ukraine combine to squeeze global oil and gas supplies

The IEA warns the Hormuz blockade has triggered the most severe energy shock in history, sending prices higher and exposing developing economies to rising inflation and supply risks

IEA chief Fatih Birol says the Iran war has triggered an energy shock more severe than past crises, as the agency considers further emergency oil stock releases

The International Energy Agency agreed to release a record 400 million barrels of oil to help rein in prices that have spiked due to supply shocks

The International Energy Agency is considering the largest release of emergency oil reserves in its history as markets reel from supply disruptions linked to the war with Iran.

G7 finance ministers are due to meet to discuss the possible release of oil reserves to calm markets

The Iran crisis has already cut global oil supply by a combined 200 million barrels over the past 10 days, according to analysts’ estimates