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The Latest Breaking News from IEA

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

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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

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

IN FULL

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

The Independent UK

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 Guardian - AU

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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 Independent UK

Anger grows among UK ministers amid fears Iran war could jeopardise Britain’s fragile finances

Some in cabinet in despair over possible impact of war begun by Donald Trump, who branded Nato allies ‘cowards’

The Guardian - UK

Lowering speed limits among contingency plans to curb UK oil demand

International Energy Agency recommends emergency measures, including working from home, as Iran war hits fuel supply

The Guardian - UK

'Carry on as normal,' Starmer tells Britain as Trump's Iran war triggers oil crisis rocking economies

The Prime Minister sought to reassure millions of households amid a new warning that energy bills could rise by more than £300

Evening Standard

IEA urges swift cuts in oil demand, encourages remote work, less air travel

As the war in the oil-rich Middle East keeps escalating, the International Energy Agency is calling on governments to take measures to reduce oil demand by pushing remote working, reducing speed limits and encouraging a shift towards public transport.

Euronews

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 - AU

Is Asia’s energy lifeline on the line due to tensions in the Strait of Hormuz?

Countries across Asia are scrambling to contain surging energy costs and fuel shortages as disruptions in the Strait of Hormuz threaten supplies.

Euronews

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Euronews

Can the Grids Package free the EU from its energy dependence?

US-Iran tensions disrupt Middle East energy routes, driving up oil and gas prices. After the 2022 energy crisis, Brussels launched the Grids Package. Can this plan cut Europe’s reliance on foreign energy?

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

Fortune

There's an oil price scenario that would bring the US economy to a 'standstill;

Higher-for-longer oil prices would lead to economic spillover effects that are much harder to control.

Euronews

Oil prices rise as Trump presses allies to secure the Strait of Hormuz

Oil prices continue to rise as the Iran war enters its third week, with President Trump pushing allies to help secure the Strait of Hormuz as investors react to threats facing Middle Eastern export facilities.

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news in one place.

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Fortune

The war in Iran has caused the biggest oil supply disruption in history, energy watchdog says, and a swift end to the conflict might not change that

The war’s global energy consequences could ripple far beyond its eventual end-date.

Euronews

US expands Russian oil waiver to all buyers in bid to tame prices

The US has expanded a temporary sanctions waiver on the purchase of stranded Russian oil from India alone to all countries worldwide as part of ongoing efforts to ease pressure on global energy prices.

International Business Times UK

Iran War Could Push UK Grocery Prices Up by Hundreds as Fertiliser Supply Stalls — Petrol Is Just the Start

Discover how the Iran war is causing a fertiliser supply chain crisis, leading to a second wave of food inflation in the UK. Learn about the impact on British households and the economy.

The Conversation

China’s ban on fuel exports is deeply worrying for Australian air travellers

Australia’s vulnerability to liquid fuel shortages and price hikes has intensified amid reports China has told oil refiners to halt all fuel exports. This adds to continued global uncertainty about the duration of the Iran conflict and its impact upon oil supplies.

Axios

Ship escorts to start in Strait of Hormuz "soon," Trump officials say

Scott Bessent made the comments to Sky News as he confirmed the war had cost the U.S. $11 billion thus far.

The Independent UK

US navy will escort oil tankers through Strait of Hormuz despite Iran threats, says treasury secretary

Scott Bessent said Chinese tankers have passed through the Strait in what he claimed was a sign Tehran ‘have not mined’ the passage

Barchart

Stocks Slump on Iran War and Credit Woes

The S&P 500 Index ($SPX ) (SPY ) on Thursday closed down -1.52%, the Dow Jones Industrial Average ($DOWI ) (DIA ) closed down -1.56%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed down -1.73%. March E-mini S&P futures (ESH26 ) fell -1.49%, and March E-mini Nasdaq futures...

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