- The head of the International Energy Agency (IEA), Fatih Birol, warned that the war in Iran's impact on global energy supplies will surpass the combined effects of the two 1970s oil crises and the war in Ukraine.
- Birol stated that world leaders initially underestimated the full impact of the US and Israel's attack on Iran and Tehran's subsequent closure of the Strait of Hormuz.
- The current crisis has cut oil output by approximately 11 million barrels per day and removed 140 billion cubic metres of natural gas from markets, significantly more than previous energy shocks.
- The IEA has implemented measures such as releasing 400 million barrels from strategic reserves and advocating for demand-side reductions, including increased working from home and lower motorway speed limits.
- US president Donald Trump issued a 48-hour ultimatum to Iran to reopen the Strait of Hormuz, threatening to destroy its energy facilities, to which Iran responded by striking US and regional infrastructure.
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