PARIS – The Iran-U.S.-Israel conflict has triggered the most severe energy crisis ever, International Energy Agency head Fatih Birol declared on April 21, compounding Russian gas disruptions and choking the Strait of Hormuz, conduit for one-fifth of global oil and LNG flows.
In a France Inter radio interview, Birol called it “the biggest crisis in history,” surpassing the 1973 and 1979 oil shocks plus 2022’s Ukraine fallout, with maritime blockages atop severed Europe-Russia supplies. Earlier this month, he deemed it worse than those combined; in March, the IEA tapped a record 400 million strategic oil barrels to curb price spikes.
The dual petrol and gas crunch threatens worldwide economies, demanding urgent reopening of the vital strait amid escalating Middle East hostilities.