WASHINGTON: If the US and Iran do not increase oil flowing through the Strait of Hormuz soon, the world should worry about energy security, International Energy Agency Executive Director Fatih Birol said on Thursday. “Oil security is still a critical issue,” Birol told a Council on Foreign Relations event.

IEA warns Hormuz closure could trigger an energy crisis. WTI reaching $110 in July 2026 at 2.8% YES.

Global economic headwinds could emerge if Strait of Hormuz disruptions continue for weeks. Financial markets show anxiety over escalating conflict and its impact on energy…