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The Latest Breaking News from Fatih Birol

IMF Slashes Global Forecast Growth As a Result If Iran War But Sees Short-Lived Conflict

The International Monetary Fund (IMF) slashed its global forecast war as a result of the war in Iran and presented different scenarios based on the duration of the conflict.

International Business Times

IEA Head Says Current Oil Prices Don't Show Gravity Of Threat To Energy Markets Posed By Iran War

International Energy Agency head Fatih Birol said on Tuesday that current oil prices don't fully show the gravity that energy markets face as a result of the war in Iran and the Middle East in general.

International Business Times

'The largest energy security threat in history' is about to push oil prices further up, IEA warns

No new energy shipments have been loaded in April, signalling a worsening disruption that could intensify the global energy and economic impact, IEA Executive Director Fatih Birol said on Monday.

Euronews

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Global energy system will be ‘profoundly transformed’ by Iran war, watchdog says

International Energy Agency chief says current shock driven by Iran’s blockade of Strait of Hormuz will accelerate shift towards renewable and nuclear power

The Independent UK

Oil Whipsaws $30 in 24 Hours as Trump Vows to 'Hit Iran Extremely Hard'

Oil prices swung nearly $30 in 24 hours as Trump's primetime speech vowed to hit Iran 'extremely hard,' reversing ceasefire-driven losses.

International Business Times UK

Trump will address the nation about the Iran war on Wednesday. Here’s what to expect

Oil analysts warn April will be the cruelest month yet for energy prices, and a presidential speech may not be enough to change that.

Fortune

As US readies ground forces in West Asia, India’s ‘stable’ energy claims face a slippery reality

The war in West Asia is nearly a month old, and this morning, there’s news of the United States beginning to deploy airborne troops and Marine units into the region after Iran rejected a ceasefire proposal. This move expands the scope of military action beyond air and naval engagement. These…

Newslaundry

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IEA Reveals 10-Point Plan to Ease Oil Costs Amid Middle East Supply Crisis – Here's the List

The IEA's 10-point emergency plan aims to reduce oil demand amid the Middle East conflict's historic supply disruption, potentially lowering prices and impacting commuters and businesses worldwide.

International Business Times UK

Grattan on Friday: Albanese government struggles under the ‘stress test’ posed by Middle East war

Crises “stress test” governments and countries. Memories remain vivid of COVID, which put immense pressures on the Australian economy, the federation and Commonwealth and state budgets.

The Conversation

BlackRock CEO Larry Fink warns oil could hit $150 amid Iran‑US war, causing 'global recession'

Larry Fink, BlackRock’s CEO, warns that Iran’s ongoing threats could push oil to $150 a barrel, risking a deep global recession. Even post-ceasefire, regional instability around the Strait of Hormuz may keep prices elevated for years. He stresses the regressive impact on consumers and urges accelerated investment in alternative energy…

The Times of India

Mark Zandi warns recession odds are creeping toward 50%, and the Iran war could launch us into economic turmoil by midyear

As oil steadily climbs above $100 per barrel and Iran rejects a U.S. peace proposal, Moody’s chief economist says recession odds are only getting worse.

Fortune

Asia braces for ‘Covid-like’ crisis as impacts from Iran war fuel shortage widen

Petrol stations run dry as countries take measures to reserve energy amid uncertainty over ongoing Middle East crisis

The Independent UK

The fuel crisis shows the energy future has arrived. All Barnaby Joyce and One Nation have to offer is bluster

It’s worth comparing the One Nation MP’s views with those of an expert – the executive director of the International Energy Agency

The Guardian - AU

The Iran oil crisis is the worst energy shock ever recorded. World leaders aren't ready, says IEA chief

IEA executive director Fatih Birol broke a three-week silence with a fresh warning, raising fresh alarms over the deepening global energy crisis.

Fortune

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The Times of India

'No direct talks, buying time': What Iran has said on Trump's claims

President Trump on Monday claimed "productive" talks with Iran, suggesting a potential deal. However, Iranian authorities denied any negotiations, accusing the US of using diplomacy as a cover for military action. Trump announced a five-day pause on strikes against Iranian energy infrastructure, citing ongoing discussions, while military actions continued on…

Euronews

Portugal edges closer to declaring energy crisis as gas prices surge

An existing energy crisis scenario allows the government to act directly in limiting prices, but this can only happen after an EU-level decision.

The Guardian - UK

First Thing: Iran war energy crisis equal to 70s twin oil shocks and Ukraine invasion fallout, IEA chief says

Fatih Birol says effects on energy markets not initially understood by world leaders. Plus, feminist magazine reclaims Charlie Kirk-style campus tours

International Business Times UK

Kevin O'Leary Predicts the Strait of Hormuz Crisis Will be Resolved in The Next 30 Days

Kevin O'Leary discusses the potential resolution for the Strait of Hormuz blockade and its impact on global oil prices and the US economy.

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The Independent UK

World heading for energy crisis ‘worse than 70s oil shocks and Ukraine combined’

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International Business Times UK

US Stocks Continue Downtrend, Gold Records Largest Weekly Decline Since '83 After Trump's Hormuz Ultimatum

International Energy Agency director believes that the fallout from the Middle East war is equivalent to the two major oil crises of the 1970s and the 2022 gas crisis 'put together.'

The Independent UK

World facing worse energy shock than 1970s oil crisis and Ukraine war combined, says IEA chief

Fatih Birol says world leaders underestimating impact war in Middle East will have on energy prices

Euronews

Newsletter: Hungary accused of briefing Moscow on sensitive EU talks

Also today: The results from a nail-biting parliamentary election in Slovenia and French muncipal runoffs considered a political litmus test a year before a pivotal presidential ballot.

AAP

Gas, property lobbies fire up over proposed tax reform

More than three in five Australians want the government to slug gas companies with a 25 per cent export tax, as prices soar due to the war in the Middle East.

Euronews

IEA: Global economy faces ‘major, major threat’ because of Iran war

War in the Middle East has 'severely' damaged more than 40 energy assets across nine countries, said the head of the International Energy Agency, as he warned of deepening risks to the global economy.

The Independent UK

International Energy Agency head says global economy faces ‘major, major threat’ because of Iran war

The head of the International Energy Agency head says the global economy faces a “major, major threat” because of the Iran war

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