PARIS, April 21 (Reuters) - The conflict between Iran and the United States and Israel is creating the worst energy crisis ever faced by the world, the head of the International Energy Agency (IEA)
IEA: Iran War Creates Most Severe Global Energy Crisis in History
Impact of the Iran Conflict on Global Energy Markets
PARIS, April 21 (Reuters) - The conflict between Iran and the United States and Israel is creating the worst energy crisis ever faced by the world, the head of the International Energy Agency (IEA) said on Tuesday.
IEA's Assessment of the Crisis
"This is indeed the biggest crisis in history," Birol told France Inter radio in an interview broadcast on Tuesday.
"The crisis is already huge, if you combine the effects of the petrol crisis and the gas crisis with Russia," he added.
Disruption of Global Energy Supply Routes
The war in the Middle East has choked up maritime traffic in the Strait of Hormuz, which is a conduit for a fifth of global oil and liquefied natural gas flows.
Compounding Effects of Multiple Conflicts
It has also come on top of the effects of Russia's war with Ukraine, which had already severed Russian gas supplies to Europe.
Comparison to Previous Energy Crises
Birol had said earlier this month that he viewed the current situation in global energy markets as worse than previous crises in 1973, 1979 and 2022 combined.
IEA's Response to Rising Oil Prices
In March, the IEA agreed to release a record 400 million barrels of oil from strategic stockpiles to combat rising oil prices caused by the U.S.-Israeli war with Iran.
(Reporting by Sudip Kar-Gupta; Editing by Raju Gopalakrishnan)
