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The Latest Breaking News from Fatih Birol

Fuel Prices To Remain Elevated In The U.S. Even If Hormuz Strait Is Reopened Soon With Inventories Almost Depleted

Global oil and gas inventories are almost depleted as the Strait of Hormuz has been closed for over three months. As a result, even if the key waterway is quickly reopened, U.S. consumers will still face high fuel prices.

International Business Times

‘Electrification is the answer to save Europe’s industry,’ IEA tells Euronews

The International Energy Agency's chief Fatih Birol told Euronews that the EU should embrace the 'age of electricity' to boost industrial competitiveness.

Euronews

Newsletter: ‘A dangerous place’, Magyar’s moment and Europe’s mouthpiece

As the International Energy Agency warns of the fallout from sky-high energy prices prompted by the war in the Middle East, the Hungarian Prime Minister Péter Magyar comes to town aiming to unlock billions of frozen EU funds – while the bloc thrashes out whether to speak to Moscow.

Euronews

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Exclusive: IEA chief Birol warns Europe easing Russian energy sanctions would be 'major mistake'

IEA chief says “knocking on Russia’s door” would be a repeat of past mistakes, even as the EU is rattled by a price shock stemming from the Strait of Hormuz shutdown. Agency warns of "biggest energy security crisis ever".

Euronews

World faces biggest-ever energy security crisis as Iran war disrupts fuel flows, warns IEA

The world faces an unprecedented energy security crisis, forcing nations to seek new supply routes and boost domestic production. The International Energy Agency warns this will reshape global investment, mirroring the 1970s oil shocks. While renewables and nuclear power see growth, natural gas and even coal are experiencing a resurgence…

The Economic Times

Asian And European Oil Markets Are Almost Depleted As Strait Of Hormuz Remains Closed, Strategist Says

Oil markets in Asia and Europe are almost depleted as the Strait of Hormuz remains closed, according to a veteran strategist.

International Business Times

Govt vows to boost standing with IEA

Paris: Thailand has pledged to deepen cooperation with the International Energy Agency (IEA) across all dimensions as part of efforts to strengthen energy security and address the global energy crisis.

Bangkok Post

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Warning summer holidays are under threat with oil markets nearing ‘red zone’

We are facing the largest energy shock in living memory, the energy boss warned

The Independent UK

Oil markets nearing ‘red zone’ as Iran crisis continues, warns IEA chief

Surging demand, low reserves and reduced Middle East exports predicted to cause global crunch by August

The Guardian - UK

IEA Chief Says Oil Markets Could Enter 'Red Zone' As Reserves Continue To Drop

IEA chief Fatih Birol warned that oil markets could enter a "red zone" as stocks continue to decrease.

International Business Times

EU To Downgrade Growth Forecast Due To 'Stagflationary Shock' From Iran War

The European Union will cut its growth forecast as a result of the "stagflationary shock" from the Iran war, its economy commissioner said.

International Business Times

Iran Says U.S. Offered Oil Sanctions Relief As Trump Warns "Clock Is Ticking"

A report from Iran's semi-official Tasnim News Agency that the United States has offered a temporary waiver on oil sanctions against Tehran briefly cooled global crude markets Monday, even as President Donald Trump warned Iran that time was running out to reach a broader peace deal.

Latin Times

Iranian Media Says U.S. Offered Temporary Waiver On Oil Sanctions Against Tehran

Iranian outlet Tasnim reported that the U.S. offered an interim waiver on oil sanctions against the country.

International Business Times

Commercial Oil Inventories Depleting Rapidly With Only a Few Worth Left, IEA Head Says

Commercial oil inventories are being quickly depleted and there are only a few weeks worth left of them, International Energy Agency Fatih Birol warned.

International Business Times

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The Economic Times

IEA chief warns commercial oil inventories are depleting rapidly, only weeks left

International Energy Agency head Fatih Birol warned that commercial oil inventories are rapidly depleting, with only a few weeks of supply remaining due to the Iran war and Strait of Hormuz closure. Strategic reserve releases have provided temporary relief, but demand is increasing with seasonal shifts. The agency previously forecast…

Salon

Donald Trump: Green energy's savior?

The president has unintentionally set off an international scramble for renewable energy due to his war in Iran

The Guardian - UK

‘Climate solutions will bring down bills and restore nature’: green issues and May elections

As Reform vows to block solar and windfarms, energy leaders say renewables offer most secure future, insulating UK from hostile forces

The Guardian - UK

Could Santa Marta climate talks mark ground zero in push to ditch fossil fuels?

Colombia hosted nearly 60 countries at pivotal time on world stage for fight to transition to a clean energy future

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International Business Times UK

Fuel Costs Soar for Air France-KLM as Middle East Conflict Triggers Urgent $2.4 Billion Budget Warning

European airline group Air France-KLM has raised prices as fuel costs surge amid the Iran war, while warnings from the International Energy Agency highlight fears Europe could face jet fuel shortages within weeks.

The Guardian - UK

‘The damage is done’: global oil crisis has changed fossil fuel industry for ever, IEA chief says

Exclusive: International Energy Agency’s Fatih Birol, the world’s leading energy economist, also says UK should largely forgo North Sea expansion

International Business Times

China Holds Largest Oil Stockpiles As Prolonged Iran War Raises Fears Of Global Supply Shock: Report

China's aggressive oil stockpiling surge ahead of the Iran war is reshaping global energy security dynamics as supply risks intensify in the Strait of Hormuz.

The Guardian - UK

American Airlines says soaring price of jet fuel will cost it $4bn this year

Fuel crisis from Middle East conflict could push carrier into loss as it looks to offset costs with higher fares

Fortune

‘The biggest energy security threat in history’: IEA chief warns 13 million barrels a day are gone with no cure in sight

IEA chief Fatih Birol says the world is losing 13 million barrels of oil a day, more than the two 1970s oil crises combined.

The Independent UK

Nuclear energy is having a global revival 40 years after Chernobyl

The 1986 Chernobyl nuclear disaster fueled global fears about nuclear energy and slowed down its development in Europe and other regions

International Business Times

World Experiencing Its Worst Energy Crisis In History Due To Iran War, IEA Head Says

The world is experiencing its worst energy crisis in history as a result of the Iran war, according to International Energy Agency head Fatih Birol.

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