IEA Forecasts Significant Energy Price Surge Amid Strait of Hormuz Blockade

© изображение сгенерировал ИИ

If the free movement of ships through the Strait of Hormuz is not restored soon, it will lead to a significant increase in energy prices, warned Fatih Birol, head of the International Energy Agency (IEA), in an interview with the Swiss newspaper Die Neue Zürcher Zeitung.

He stressed that the market underestimates the significance of a prolonged blockade of this maritime corridor. The situation was alleviated by allowing several oil and gas tankers, loaded before the conflict in the Middle East began, to sail to their destinations. However, no new tankers have been loaded since March.

Birol noted that the lack of new oil, gas, and fuel supplies to markets is already "making itself felt."