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The Latest Breaking News from IEA

Putin has finally admitted Russia is facing problems in Ukraine war – are there signs he may be cracking?

IN DEPTH: Russia’s president has made a rare acknowledgement his country is suffering from fuel shortages because of Ukrainian drone strikes. Experts tell Alex Croft and Maira Butt that Putin can no longer hide his air defence failures from the public

The Independent UK

Keeping cool has become Europe's latest climate class war

As Europe accelerates its green transition, the debate over air conditioning has become emblematic of a broader challenge. Climate policy is no longer judged solely by its environmental ambitions, but also by whether it can reduce emissions without deepening social inequalities.

Euronews

Stray Ukrainian drones crashing onto Nato soil are price worth paying to defeat Putin, says Estonian foreign minister

‘We are not saying to Ukraine to stop it,’ said Margus Tsahkna

The Independent UK

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Rooftop solar can provide five hours of 'free' air conditioning a day. But is it green?

Energy analysts say solar power and air conditioning are ‘complementary technologies’ – but is the race to cool Europe down backfiring?

Euronews

Hormuz oil shock echoes 1973 embargo lessons

The recent Strait of Hormuz closure, though brief, signals a potential turning point for global energy. Echoing the 1973 oil embargo, this crisis highlights the vulnerability of interconnected markets. Nations are now prioritising energy security over cost, accelerating investments in domestic renewables, nuclear and even coal, alongside efficiency measures.

The Economic Times

UAE oil exports rebound to 85% of pre-war levels as Gulf supply routes adapt: IEA

United Arab Emirates oil exports have rebounded significantly, reaching nearly 85% of pre-conflict levels by early June. Leveraging alternative routes, extensive storage, and strategic shipping, the UAE successfully navigated Gulf tensions. Exports surged from 1.9 million barrels daily in March to 4.3 million in early June, demonstrating resilience amidst global…

The Economic Times

‘Compound shock effect’: why the Middle East crisis and El Niño could spell disaster in south-east Asia

Millions of tonnes of the world’s food could be lost amid the uncertainties surrounding the strait of Hormuz and the dangers of a ‘Godzilla-strength’ El Niño

The Guardian - AU

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Crude Oil Prices Retreat as Global Supply Fears Recede

July WTI crude oil (CLN26 ) on Monday closed down -1.78 (-2.32%), and July RBOB gasoline (RBN26 ) closed down -0.0079 (-0.26%). Crude oil and gasoline prices gave up overnight gains on Monday and settled lower. Crude prices retreated on Monday amid signs of progress in US-Iran peace talks, including...

Barchart

Iran war triggers global race to build oil reserves

Vulnerable nations, stung by the Iran war's economic fallout, are boosting oil and gas storage to weather future crises. This global push for reserves could add half a billion barrels of demand. Countries like India and Pakistan are prioritizing stockpiles, learning from China's successful strategy of reducing imports during supply…

The Economic Times

High oil prices drive a surge in Chinese electric vehicle sales, but charging networks lag behind

The war in Iran has helped reshape the global electric vehicle market, giving Chinese automakers an opening across the developing world as fuel prices surge

The Independent UK

Crude Oil Prices Fall on US-Iran Peace Deal

July WTI crude oil (CLN26 ) on Thursday closed down -0.19 (-0.25%), and July RBOB gasoline (RBN26 ) closed up +0.0853 (+2.93%). Crude oil and gasoline prices settled mixed on Thursday, with crude falling to a 3.5-month low. Thursday's rally in the dollar index ($DXY ) to a 13-month high...

Barchart

OPEC Chief Rejects IEA's Oil Glut Warning as Strait of Hormuz Reopens

OPEC Secretary General Haitham Al Ghais has pushed back against forecasts from the International Energy Agency (IEA) that the global oil market is headed toward a major supply glut.

International Business Times

Crude Oil Prices Tumble as Strait of Hormuz Reopens

July WTI crude oil (CLN26 ) today is down -2.90 (-3.78%), and July RBOB gasoline (RBN26 ) is down -0.0349 (-1.20%). Crude oil and gasoline prices are retreating today, with crude falling to a 3.5-month low. Today's rally in the dollar index ($DXY ) to a 13-month high is bearish...

Barchart

Oil Prices Keep Falling After U.S. And Iran Sign Deal To End The War And Reopen The Hormuz Strait

Oil prices kept falling on Thursday after the U.S. and Iran signed the memorandum of understanding to end the war and reopen the Strait of Hormuz.

International Business Times

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International Business Times

U.S. Gas Prices Drop Below $4 a Gallon After Deal To Reopen Strait Of Hormuz

U.S. gas prices have dropped below $4 a gallon as oil prices continue to drop following the agreement between the U.S. and Iran to end the war.

International Business Times

U.S., Iran Sign Memorandum Of Understanding To End War Ahead Of Schedule

Trump signed on Wednesday the memorandum of understanding with Iran to cease hostilities and begin nuclear negotiations.

International Business Times

Trump Says Global Oil Reserves Would Have Ran Out In 4 Weeks Without Iran Deal

President Donald Trump said on Wednesday that global oil reserves would have ran out in four weeks without a deal with Iran.

Barchart

Tightness in US Crude Supplies Supports Crude Oil Prices

July WTI crude oil (CLN26 ) on Wednesday closed up +0.74 (+0.97%), and July RBOB gasoline (RBN26 ) closed up +0.0291 (+1.01%). Crude oil and gasoline prices settled higher on Wednesday, with crude recovering from a 3.5-month low. Crude oil prices rose on Wednesday on some technical buying after sharp...

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International Business Times

IEA Slashes 2026 Oil Demand Outlook Despite U.S.-Iran Agreement To Reopen Hormuz Strait

In its latest Oil Market Report, the IEA agency said global oil demand growth has weakened substantially compared to the optimistic forecasts it published at the start of the year.

Barchart

Crude Oil Prices Jump as US Domestic Supplies Tumble

July WTI crude oil (CLN26 ) today is up +0.90 (+1.18%), and July RBOB gasoline (RBN26 ) is up +0.0098 (+0.34%). Crude oil and gasoline prices are moving higher today, with crude recovering from a 3.5-month low. Crude oil prices are climbing today on some technical buying after sharp losses...

The Economic Times

IEA sees gradual Hormuz recovery tipping into significant 2027 surplus

The global oil market is set for a gradual recovery. The Strait of Hormuz will reopen following a US-Iran agreement. This ends a major oil supply disruption. The International Energy Agency predicts a significant oil surplus by 2027. Millions of barrels of Middle East oil output will return to the…

The Conversation

US-Iran deal should see oil and LNG begin to flow again… slowly

US President Donald Trump hailed the deal ending the US-Israel war with Iran with a triumphant message: “Ships of the World, start your engines. Let the oil flow!” he wrote on his online social media platform.

AAP

Iran war is a wake-up call for Southeast Asia's energy sector, IEA report says

The International Energy Agency says Southeast Asia's power sector is too open to risks from its dependence on imports of oil and gas from a limited number of suppliers

The Independent UK

Iran war is a 'wake-up call' for Southeast Asia's energy sector, report says

The International Energy Agency says Southeast Asia’s power sector is too open to risks from its dependence on imports of oil and gas from a limited number of suppliers

Euronews

EU energy ministers eye jet fuel reserves as Strait of Hormuz crisis threatens supply

With the peak summer season drawing near, EU energy ministers are wary that jet fuel supply may be further strained, even as analysts see "sharp movement" towards greater jet fuel production within European refineries.

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