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The Latest Breaking News from International Energy Agency

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

Oil Price Today (July 13): Crude oil up almost 5%, nears $80 as US, Iran unleash more strikes. $100 in sight?

Brent crude futures advanced $3.34, or 4.38%, to $79.5 a barrel, while U.S. West Texas Intermediate (WTI) crude gained $3.07, or 4.30%, to $74.20 a barrel. The latest rally comes after both benchmarks climbed 5.5% last week, with WTI once again trading above $74 a barrel. European natural gas futures…

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

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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

AAP

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

The Independent UK

‘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

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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‘Wake-up call’: methane emissions from Australian coalmines more than double official estimates, report finds

International Energy Agency findings show government must commit to rapid cuts in emissions of greenhouse gas, climate experts say

The Guardian - AU

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.

International Business Times

EU downplays jet fuel shortage risks despite IEA warning

EU officials and the International Energy Agency have contrasting narratives over jet fuel supply. While the European commission minimises the risk, it acknowledges that the market remains “tight” and says the EU is prepared to respond appropriately.

Euronews

Britain Is One of the Most Vulnerable Countries in Europe for Jet Fuel; IEA Says Flights Could Be Cancelled From May

Europe faces a jet fuel shortage, raising concerns about potential flight disruptions. The UK is particularly vulnerable due to its reliance on imported fuel and limited refining capacity.

International Business Times UK

Europe has six weeks of jet fuel left caused by 'dire strait' crisis, IEA chief warns

Last week, the Airports Council International Europe wrote to the European Commission, saying jet fuel shortages could begin at the start of May if tankers do not start passing through the Strait of Hormuz.

Euronews

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

Lessons learned in '70s have made US, world economies less vulnerable to oil shocks

The world economy is experiencing a disorienting flashback to the 1970s

The Independent UK

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The Guardian - AU

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

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 Guardian - AU

Afternoon Update: IEA chief warns oil shock worse than 1970s crises combined; ABC staff to strike; and a ‘feline Oscars’ star

International Energy Agency executive director, said world leaders had not properly understood the consequences of the strait of Hormuz’s closure

The Independent UK

International Energy Agency to release record oil reserves to calm markets

The conflict in Iran has halted shipments through the Strait of Hormuz and pushed the price of oil and gas sharply higher.

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The Independent UK

Germany, Austria say they'll release oil from reserves in response to 400 million barrel request

Germany and Austria say they are releasing parts of their oil reserves following an International Energy Agency request for its members to release 400 million barrels to help temper energy price spikes due to the Iran war

The Times of India

Fuel crisis: Major UAE oil refinery shut after drone attack; global energy body calls 'emergency meeting'

A major UAE oil refinery halted operations following a drone attack, intensifying fears of a global energy crisis. The International Energy Agency is convening an emergency meeting to assess supply risks and consider releasing strategic oil reserves. Escalating attacks on Gulf energy infrastructure are causing severe disruptions across various industries,…

The Guardian - UK

UK inflation likely to rise because of Middle East war, says Rachel Reeves

Chancellor says she is ready to help households with rising costs but stops short of setting out specific steps

The Guardian - AU

The Coalition claims pursuing net zero will increase power bills – but in the real world the opposite is true

The International Energy Agency, once known for an anti-renewables bias, now says a more ambitious transition will lower prices

Fortune

IEA heralds 'the Age of Electricity' while warning that oil may not be peaking in 2030 after all

The International Energy Agency’s World Energy Outlook still sees a pathway to mitigage "the most severe risks from climate change."

The Conversation

Renewables have now passed coal globally – and growth is fastest in countries like Bhutan and Nepal

For the first time, renewables have toppled coal as the world’s leading source of electricity, in keeping with International Energy Agency projections for this historic shift.

The Independent UK

PM fast tracks £300m for offshore wind in push for clean energy investment

The announcement comes as the UK Government and International Energy Agency hosts a summit on the future of energy security.

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