US EditionThe Mother Of All Energy Crises Is Just Beginning, IEA Warns - Exxon Mobil (NYSE:XOM)
12 Articles
12 Articles
While energy prices have been rising ever since the beginning of the Middle East conflict, for example, with a gas oil tariff that had not been so expensive for 40 years, this would only be the beginning. According to the Director of the International Energy Agency (IEA), "the loss of oil will be twice as high".
Since the end of February, when the United States entered the war against Iran, energy prices have continued to rise. Fuel has not escaped inflation and the fear of rising energy prices has continued to increase.
IEA Warns Oil Crisis Will Deepen In April
The International Energy Agency has warned that the global oil supply crisis will worsen sharply in April as the Iran conflict continues to disrupt energy flows. According to the IEA, oil losses next month could double March levels due to the near shutdown of the Strait of Hormuz, a key global shipping route.IEA chief Fatih Birol said the crisis already exceeds previous shocks, including those in the 1970s and after the Ukraine war, with around …
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