In a rare formal statement, International Energy Agency (IEA) Executive Director Fatih Birol warned that while global crude oil markets "continue to benefit from several cushioning factors ... there is no room for complacency" as escalating violence in the Middle East again compromises significant supplies.
IEA Warns Against 'Complacency' as Oil Prices Relatively Muted
Crude prices remain closer to their prewar levels than their mid-war highs despite renewed Mideast hostilities and the market's continued need to lean on numerous cushions.
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