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The Latest Breaking News from IEA

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

Seven charts that reveal how unprepared Australia was for the fuel crisis

Disruptions to Middle East oil shipments have rippled along the world’s longest supply chain through Asia – and there’s no knowing when the pressure will ease

The Guardian - AU

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UK drivers hit with £307m fuel bill after Trump’s Iran war as diesel price climbs to three-year high

Inflation fears as petrol prices soar – but Reeves says no help yet for millions facing higher energy bills

The Independent UK

The Oil Crisis You Haven't Heard About: Why Vietnam, Bangladesh, and the Philippines Face an Energy Emergency

The US-Israel-Iran conflict impacts global oil markets, causing fuel shortages in Southeast Asia. Discover how Vietnam, Bangladesh, and the Philippines manage the crisis and its effect on supply chains and oil prices.

International Business Times UK

Drivers do not need to slow down or change how they buy fuel – minister

Michael Shanks insisted British drivers did not need to change their habits, despite suggestions from the International Energy Agency.

Evening Standard

‘We consider every mile we drive’: how fuel shortages are affecting readers worldwide

From a shop owner in India to a community worker in New South Wales, rising fuel prices are forcing people to ration oil usage

The Guardian - UK

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A war and maybe an unprecedented depression: it’s Trump’s mania, but now all of us will pay the price

It has been possible to observe this presidency in abstract terms, but no more. The consequences of the Iran attack will affect our lives and our politics, says Guardian columnist Polly Toynbee

The Guardian - UK

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

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

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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 - 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

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Evening Standard

'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

Euronews

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.

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

Euronews

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

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.

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