4 reasons the ‘largest energy crisis’ on record has been held at bay – and why there’s pain to come

Uma Shankar Sharma/Getty

The US-Israel war with Iran was predicted to cause the worst energy crisis in history, according to the International Energy Agency.

Around 20% of the world’s liquefied natural gas (LNG) and 25% of its seaborne oil supplies were affected. The impact should have eclipsed the oil shocks of the 1970s.