The International Energy Agency (IEA) stated that even if the Strait of Hormuz reopens, the global energy market will not return to pre-war conditions, and restoring Middle Eastern gas supplies to previous levels will be a difficult process.
In its assessment published on Monday, August 24, regarding the consequences of the war and disruptions to energy transit from the Middle East, the agency declared that the world has entered a "new era in energy security."
According to the assessment, disruptions to transit through the Strait of Hormuz have impacted global oil and gas markets. The IEA emphasized that even if shipping fully resumes, restoring energy flows will not translate into an immediate return to prior market conditions.
The International Energy Agency issued a specific warning regarding natural gas, stating that restoring Middle Eastern gas supplies to pre-war levels will prove challenging.
The Strait of Hormuz is one of the world's most critical transit routes for oil and gas, and restrictions on vessel traffic during the conflict have severely affected regional energy export flows.
