War in Iran is causing the worst energy crisis in history — Reuters
The conflict between Iran, the United States, and Israel has triggered an unprecedented global energy crisis.
This was reported by Reuters.
This was stated by Fatih Birol, head of the International Energy Agency. According to him, the current situation is the most serious in history.
He emphasized that the scale of the crisis far exceeds previous disruptions, especially when considering the combined effect of gas and oil instability linked to Russia.
One of the key factors has been the disruption of shipping in the Strait of Hormuz—a strategic route through which about one-fifth of the world’s oil and liquefied natural gas supplies are transported.
According to Birol’s estimates, the current situation is more complex than during the energy crises of 1973, 1979, and 2022.
To curb the sharp rise in prices, in March the IEA decided to release a record 400 million barrels of oil from strategic reserves.
Trumpexpressed his willingness to meet personally with Iran’s new leadership.
U.S. President Donald Trump also announced progress in negotiations with Iran, under which Washington would allegedly receive all of Tehran’s enriched uranium without any financial payments.
Additionally, Israel agreed to a 10-day ceasefire with Lebanon and announced the start of a move toward a diplomatic settlement; however, Prime Minister Benjamin Netanyahu emphasized that the war against Hezbollah is not yet over and military operations will continue.
Additionally, Iran announced new rules for ships passing through the Strait of Hormuz, which is one of the world’s key oil supply routes. Commercial vessels will now be able to transit only with permission from the Islamic Revolutionary Guard Corps Navy.
