Lates News

The Director of the International Energy Agency (IEA), Birol, reiterated on Thursday that the world is facing the largest energy crisis in history due to supply disruptions caused by conflicts with Iran. Birol stated at a meeting in Paris, "The oil and gas markets are experiencing huge difficulties. Last time I checked, oil prices had already exceeded $120, putting immense pressure on many countries. Our world is facing significant economic and energy challenges." Worries over the potential escalation of war with Iran caused Brent crude prices to surge to a four-year high on Thursday.