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.

The IEA has warned that global oil supplies are depleting at a record pace, with the Strait of Hormuz closure driving the worst supply shock in decades

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