HomeAmericaWar in Iran is causing biggest energy crisis in history, IEA says

War in Iran is causing biggest energy crisis in history, IEA says

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PARIS, April 21 (Reuters) - ‌The conflict between Iran and the ​United States and Israel is creating the worst energy ⁠crisis ever faced by the world, the head of the International Energy Agency (IEA) said on Tuesday.

"This ​is indeed the biggest crisis in history," Birol told ‌France Inter radio in an interview broadcast on Tuesday.

"The crisis is already huge, if you combine the ⁠effects of the petrol crisis and ⁠the gas crisis with Russia," he added.

The war in the Middle East has choked up maritime traffic in the Strait of Hormuz, which ‌is a conduit for a fifth of global oil ⁠and liquefied natural gas flows.

It ‌has also come on top ​of the effects of Russia's war with Ukraine, which had already severed Russian gas supplies ‌to Europe.

Birol had said earlier this ​month that he ⁠viewed the current situation in global energy ‌markets as worse than ⁠previous crises in 1973, 1979 and 2022 combined.

In March, the IEA agreed to release a record 400 ​million barrels of ‌oil from strategic stockpiles to combat rising oil ⁠prices caused by the ​U.S.-Israeli war with Iran.

(Reporting by Sudip Kar-Gupta; ​Editing by Raju Gopalakrishnan)

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