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Hormuz crisis pushes global oil market toward ‘red zone’
IEA warns Hormuz Strait crisis could push global oil markets into a ‘red zone’, draining emergency reserves and driving up fuel prices worldwide.
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cnbc.com
Oil market could enter ‘red zone’ by July as stocks dwindle ahead of summer travel season, IEA chief says
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.
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channelnewsasia.com
Oil market risks 'red zone' by summer, IEA chief warns
While a surplus of oil in the market before the war has helped absorb the energy shock it caused, "stocks are eroding", said Fatih Birol.
