IEA Executive Director: Continued closure of the Hormuz Strait will double the losses of crude oil and refined oil in April.

Fatih Birol, Executive Director of the International Energy Agency, warned that if the Hormuz Strait is not reopened for shipping, the amount of crude oil and refined oil we will lose in April will be twice the amount we lost in March. Even if the conflict ends, it will take a long time to return to normal. "We are tracking all key energy assets in the region on an hourly basis," he referred to oil and gas fields, pipelines, refineries, and LNG terminals. "Currently, 72 energy assets are damaged, with one-third of them severely or very severely damaged," he added.