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The Latest Breaking News from Fatih Birol

As US readies ground forces in West Asia, India’s ‘stable’ energy claims face a slippery reality

The war in West Asia is nearly a month old, and this morning, there’s news of the United States beginning to deploy airborne troops and Marine units into the region after Iran rejected a ceasefire proposal. This move expands the scope of military action beyond air and naval engagement. These…

Newslaundry

IEA Reveals 10-Point Plan to Ease Oil Costs Amid Middle East Supply Crisis – Here's the List

The IEA's 10-point emergency plan aims to reduce oil demand amid the Middle East conflict's historic supply disruption, potentially lowering prices and impacting commuters and businesses worldwide.

International Business Times UK

Grattan on Friday: Albanese government struggles under the ‘stress test’ posed by Middle East war

Crises “stress test” governments and countries. Memories remain vivid of COVID, which put immense pressures on the Australian economy, the federation and Commonwealth and state budgets.

The Conversation

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BlackRock CEO Larry Fink warns oil could hit $150 amid Iran‑US war, causing 'global recession'

Larry Fink, BlackRock’s CEO, warns that Iran’s ongoing threats could push oil to $150 a barrel, risking a deep global recession. Even post-ceasefire, regional instability around the Strait of Hormuz may keep prices elevated for years. He stresses the regressive impact on consumers and urges accelerated investment in alternative energy…

The Times of India

Mark Zandi warns recession odds are creeping toward 50%, and the Iran war could launch us into economic turmoil by midyear

As oil steadily climbs above $100 per barrel and Iran rejects a U.S. peace proposal, Moody’s chief economist says recession odds are only getting worse.

Fortune

Asia braces for ‘Covid-like’ crisis as impacts from Iran war fuel shortage widen

Petrol stations run dry as countries take measures to reserve energy amid uncertainty over ongoing Middle East crisis

The Independent UK

The fuel crisis shows the energy future has arrived. All Barnaby Joyce and One Nation have to offer is bluster

It’s worth comparing the One Nation MP’s views with those of an expert – the executive director of the International Energy Agency

The Guardian - AU

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The Iran oil crisis is the worst energy shock ever recorded. World leaders aren't ready, says IEA chief

IEA executive director Fatih Birol broke a three-week silence with a fresh warning, raising fresh alarms over the deepening global energy crisis.

Fortune

'No direct talks, buying time': What Iran has said on Trump's claims

President Trump on Monday claimed "productive" talks with Iran, suggesting a potential deal. However, Iranian authorities denied any negotiations, accusing the US of using diplomacy as a cover for military action. Trump announced a five-day pause on strikes against Iranian energy infrastructure, citing ongoing discussions, while military actions continued on…

The Times of India

Portugal edges closer to declaring energy crisis as gas prices surge

An existing energy crisis scenario allows the government to act directly in limiting prices, but this can only happen after an EU-level decision.

Euronews

First Thing: Iran war energy crisis equal to 70s twin oil shocks and Ukraine invasion fallout, IEA chief says

Fatih Birol says effects on energy markets not initially understood by world leaders. Plus, feminist magazine reclaims Charlie Kirk-style campus tours

The Guardian - UK

Kevin O'Leary Predicts the Strait of Hormuz Crisis Will be Resolved in The Next 30 Days

Kevin O'Leary discusses the potential resolution for the Strait of Hormuz blockade and its impact on global oil prices and the US economy.

International Business Times UK

World heading for energy crisis ‘worse than 70s oil shocks and Ukraine combined’

IN FULL

The Independent UK

US Stocks Continue Downtrend, Gold Records Largest Weekly Decline Since '83 After Trump's Hormuz Ultimatum

International Energy Agency director believes that the fallout from the Middle East war is equivalent to the two major oil crises of the 1970s and the 2022 gas crisis 'put together.'

International Business Times UK

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The Independent UK

World facing worse energy shock than 1970s oil crisis and Ukraine war combined, says IEA chief

Fatih Birol says world leaders underestimating impact war in Middle East will have on energy prices

Euronews

Newsletter: Hungary accused of briefing Moscow on sensitive EU talks

Also today: The results from a nail-biting parliamentary election in Slovenia and French muncipal runoffs considered a political litmus test a year before a pivotal presidential ballot.

AAP

Gas, property lobbies fire up over proposed tax reform

More than three in five Australians want the government to slug gas companies with a 25 per cent export tax, as prices soar due to the war in the Middle East.

Euronews

IEA: Global economy faces ‘major, major threat’ because of Iran war

War in the Middle East has 'severely' damaged more than 40 energy assets across nine countries, said the head of the International Energy Agency, as he warned of deepening risks to the global economy.

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The Independent UK

International Energy Agency head says global economy faces ‘major, major threat’ because of Iran war

The head of the International Energy Agency head says the global economy faces a “major, major threat” because of the Iran war

The Guardian - AU

Afternoon Update: IEA chief warns oil shock worse than 1970s crises combined; ABC staff to strike; and a ‘feline Oscars’ star

International Energy Agency executive director, said world leaders had not properly understood the consequences of the strait of Hormuz’s closure

The Independent UK

US-Iran war latest: Tehran calls US peace talk claims ‘fake news’ as Trump sets new deadline to end war

Donald Trump says the US and Iran have held talks about a ‘total resolution of hostilities’

The Guardian - AU

Strike in Iraq reportedly kills seven fighters – as it happened

This blog is closed

The Guardian - AU

Work from home and slow down on the road: world’s energy watchdog advises emergency measures as oil prices rise

IEA makes 10 recommendations to help households and businesses prepare for a drawn-out disruption to energy markets

The Guardian - UK

IEA to consider release of more oil reserves as Iran war keeps prices high

Head of world’s energy watchdog says it will take time for markets to recover from ongoing crisis in strait of Hormuz

Evening Standard

FTSE 100 ends higher as oil price gains moderate

Nato and other Western allies pushed back on US President Donald Trump’s demand that military alliance members help reopen the Strait of Hormuz.

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