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World News Today, International News Headlines | The HinduBusinessLine

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War in Iran is causing biggest energy crisis in history, ...
2026-04-21 · via World News Today, International News Headlines | The HinduBusinessLine

The conflict between Iran and the United States ​and Israel is creating the ‌worst energy crisis ever faced by ​the world, the ⁠head of the International Energy Agency (IEA) said on Tuesday.

"This is indeed the biggest ‌crisis in history," Birol told France Inter radio in ‌an interview broadcast on ‌Tuesday.

"The ⁠crisis is already huge, ⁠if you combine the effects of the petrol crisis and the gas crisis ​with Russia," he ‌added.

The war in West Asia has choked up maritime traffic in the Strait of ‌Hormuz, which is a conduit ​for a fifth of global oil and liquefied natural ⁠gas flows.

It has also come on top of the effects ‌of Russia's war with Ukraine, which had already severed Russian gas supplies to Europe.

Birol had said earlier this month that he viewed the current situation in global ‌energy markets as worse than ​previous crises in 1973, 1979 and 2022 combined.

In March, the ⁠IEA agreed to release a record ⁠400 million barrels of oil from strategic stockpiles to ‌combat rising oil prices caused by the U.S.-Israeli war with ​Iran.

Published on April 21, 2026