IEA Executive Director Fatih Birol said the single most important solution to the Iran war energy shock is the unconditional reopening of the Strait of Hormuz.

Global energy supplies are dangerously low as the Strait of Hormuz crisis continues. IEA warns of oil shortage and soaring prices ahead.

Commercial oil stocks are falling "very fast" as Gulf supplies remain disrupted by the Middle East war, even with the release of strategic reserves by governments worldwide, the…