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The Latest Breaking News from IEA

Cutting off Red Sea oil route may be one crisis too many

The Red Sea conflict has disrupted oil flows, impacting global energy markets. This escalation is now forcing oil tankers to reroute, increasing transit times significantly. Asian refining output has plummeted, and China's recovery faces new challenges. Soaring fuel prices are reducing global oil demand, affecting economic activity. The world faces…

The Economic Times

Oil price rises above $95 mark as Middle East conflict escalates

Global supply disrupted by US-Iran aggression in strait of Hormuz and Houthi threats in Bab el-Mandeb

The Guardian - UK

Asia's energy test may hinge on regional cooperation

The past four months have demonstrated just how volatile oil markets can be. In March, Brent crude climbed above US$100 (3,363 baht) a barrel for the first time in four years, reaching $119 on March 9 -- its highest level since the 2022 energy crisis -- as Iran's closure of…

Bangkok Post

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IEA report flags critical minerals risks as France steps up its strategy

The International Energy Agency has warned that investment in critical minerals fell in 2025 and supply chains grew more concentrated, posing fresh risks for France as it races to secure the raw materials needed for its industrial and energy transition.

Radio France Internationale

China’s Rare Earth Curbs Could Trigger $6.5 Trillion Supply Shock for Industries From EVs to Weapons Systems, IEA Warns

China’s rare earth export controls could expose $6.5 trillion of production outside the country to supply shocks, the International Energy Agency warned on Thursday, highlighting how small volumes of strategic minerals can threaten large parts of the global economy.

Benzinga

Strait of Hormuz closure must end within weeks or global economy will suffer, IEA chief warns

Global economic headwinds could emerge if Strait of Hormuz disruptions continue for weeks. Financial markets show anxiety over escalating conflict and its impact on energy shipments. Commercial shipping has sharply declined after vessels came under attack and blockades. The International Energy Agency warns of significant vulnerability for developing nations. The…

The Economic Times

Rare earth minerals explained: Why are they the world's most strategic resources?

Rare earth minerals explained: Rare earths are vital for modern technology and defense applications. China dominates global processing, creating strategic supply chain vulnerabilities. Demand for these minerals is projected to grow significantly in coming years. India faces dependence on China for critical rare earth products. Diversifying supply chains requires substantial…

The Economic Times

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Australians brace for higher fuel prices as US-Iran conflict resumes (again)

Iran and the United States have ended their fragile peace agreement, signed only a month ago, with the exchange of missile fire.

The Conversation

Crude Oil Prices Surge as US Reinstates Blockade of Iran

August WTI crude oil (CLQ26 ) today is up +3.46 (+4.87%), and August RBOB gasoline (RBQ26 ) is up +0.1036 (+3.47%). Crude oil and gasoline prices are up sharply today amid an escalation of US-Iran hostilities over control of the Strait of Hormuz. Gains in crude oil accelerated today after...

Barchart

US-Iran war: Oil flow through Hormuz rises after ceasefire, but fresh strikes spark fears, IEA says

Iran war news: Oil flows through the Strait of Hormuz recovered sharply after a ceasefire. Renewed hostilities this week have revived uncertainty over global oil markets. Benchmark crude prices fell through June as tanker traffic resumed. Global oil supply rebounded in June, supporting Gulf production recovery. The outlook depends on…

The Economic Times

US Bucks The Trend Despite Price Spike, But Oil Demand Set To Slump: When Is A Recovery Expected

Oil demand worldwide is expected to dip this year, the International Energy Agency said in a report. The expected decline in oil demand would be the first time since the peak of the COVID-19 pandemic in 2020, the IEA report said.

International Business Times

Exclusive: ‘Big mistake to believe we're off the hook in Europe and beyond,’ IEA tells Euronews

If the Strait of Hormuz is closed indefinitely, Europe and the rest of the world will face dire consequences, International Energy Agency chief Fatih Birol told Euronews in an exclusive interview.

Euronews

Global Oil Demand To Drop For The First Time In More Than Five Years, IEA Says

Global oil demand is set to drop for the first time since 2020, according to the International Energy Agency as the war in Iran saw traffic through the Strait of Hormuz plummet.

International Business Times

Global oil demand set for first annual drop since the COVID-19 pandemic, IEA says

Global oil consumption is on course to shrink this year for the first time since the COVID-19 pandemic, the International Energy Agency has said, as the war between the US and Iran throttled Gulf exports, though the IEA also noted supply increased in June.

Euronews

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The Economic Times

Global Market: IEA sees global oil demand recovering as Strait of Hormuz flows resume

Global oil demand is showing signs of recovery as shipments through the Strait of Hormuz resume and crude prices ease, the International Energy Agency (IEA) said. While the agency raised its demand outlook slightly, it cautioned that consumption and production remain well below pre-conflict levels amid lingering Middle East tensions.

The Economic Times

Fresh US-Iran clash clouds IEA oil outlook despite June supply lift from Hormuz reopening

Global oil supply rebounded in June after a ceasefire allowed Strait of Hormuz transit. However, renewed hostilities between the United States and Iran threaten future oil surplus forecasts. The International Energy Agency sees potential disruption to its 2027 surplus projection. Refined product markets remain tight due to refinery issues and…

The Independent UK

Africa secures $900 million in new clean cooking commitments

African countries have secured $900 million in new financial commitments to expand access to clean cooking

The Economic Times

Strategic oil reserve buying set to support crude demand through 2028

To enhance energy security and stabilize market prices, various governments plan to acquire millions of oil barrels up to 2028. This approach seeks to mitigate the global supply surplus anticipated from OPEC+ production hikes.

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inkl

Oil Prices Slide as Markets Bet on Hormuz Normalization

Brent and WTI oil prices are on track for their worst quarterly losses since 2020, with Brent trading at around $73.30 per barrel and WTI at $71.11 per barrel during the June 30 session, down 38% and 30% respectively.

The Economic Times

Global oil market weathers Iran war shock, but reserve depletion raises future price risks

The global oil market absorbed record supply disruptions during the Iran conflict without triggering a prolonged price shock. But analysts warn that depleted strategic reserves, damaged energy infrastructure and unresolved tensions around the Strait of Hormuz have left the market more vulnerable to future oil price spikes.

Reason

Europe May Never Be Cool, but It Can Be Air Conditioned

The continent’s political class needs to get over its aversion to life-saving technology.

Benzinga

EU Cracks Down On Chinese Imports And Joins Pax Silica In Bid To Cut Strategic Dependence

The European Union has taken new measures to protect its steel industry and curb the flood of low-value e-commerce parcels. The moves escalate its push to rebalance a trade relationship with China that officials now call strategically unsustainable.

International Business Times UK

ChatGPT's Daily Prompts Use Enough Electricity to Power a Small City

OpenAI's 2.5 billion daily ChatGPT prompts are driving rising electricity demand, highlighting AI's growing energy, water and infrastructure footprint.

The Independent UK

Putin has 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

Euronews

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.

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