US EditionIEA Chief Highlights Energy Security Amid Iran-Israeli Conflict
Fatih Birol said more than a third of 80 impacted facilities were severely damaged as the agency warned of wider economic fallout.
- International Energy Agency Executive Director Fatih Birol warned Monday that April will be tougher than March for energy markets, stating, "The longer the disruption is, the more severe the problem becomes."
- Following failed talks in Islamabad, President Trump imposed a naval blockade of the Strait of Hormuz after a two-week truce between the United States and Iran collapsed last Wednesday.
- Among over 80 impacted energy facilities in the region, more than a third have been severely damaged, Birol noted, with no new cargo loaded during April.
- The International Monetary Fund is offering up to $50 billion in financing, while World Bank President Ajay Banga pledged up to $25 billion to address economic fallout.
- UN chief Antonio Guterres urged restored navigation as Mediator Pakistan and Qatar called for a ceasefire, while Banga warned total bank aid could reach $60 billion within six months.
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IEA chief warns of tougher month for energy markets due to Iran war
April could shape up to be a tougher month than March for energy markets and the economy due to the Middle East war, the head of the International Energy Agency
The energy markets are facing even greater problems in the current month than in March, the IEA informs. An oil manager warns: If the road of Hormus is blocked, kerosene and diesel in particular could become scarce.
Oil to rock the $100, close to Ormuz blocked and destroyed infrastructure. IMF and World Bank have mobilized up to 60 billion to work on the impact.
IEA chief warns of tougher month for energy markets
WASHINGTON, United States – April could shape up to be a tougher month than March for energy markets and the economy due to the Middle East war, the head of the International Energy Agency said Monday. While the month of March saw the delivery of cargo from the region “loaded well before the crisis started,” IEA executive director Fatih Birol said, “during the month of April, nothing has been loaded.” READ: iran-state-media-says-talks-failed-ove…
The month of April "should be even worse than March" for the energy sector, warned the Executive Director of the International Energy Agency on Monday.
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