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World faces largest-ever oil supply disruption on Middle East war, IEA says
LONDON: The war in the Middle East is creating the biggest oil supply disruption in history, the International Energy Agency said on Thursday, a day after the agency agreed to release a record volume of oil from strategic stockpiles. Global supply is expected to drop by 8 million barrels per day in March due to the blocking of the Strait of Hormuz, a narrow channel along the Iranian coast, since the US and Israel began a campaign of airstrikes on Iran on Feb. 28.
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cnbc.com
The U.S.-Iran war is the biggest oil supply disruption in history
The global oil market will need to balance by destroying demand through sharply rising oil prices, according to Rapidan Energy.
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theguardian.com
IEA reportedly proposes largest release of stockpiled oil to reduce crude price
Decision expected on whether to use reserves amid supply shortages and market volatility caused by Iran war
