IEAWarns Global Economy Faces Major Threat From Middle East Energy Crisis
IEA chief Fatih Birol warns global economy faces major threat from Middle East energy crisis, comparing it to 1970s oil crises and Ukraine war impacts. Oil prices rose to $100/barrel as 40+ energy assets damaged across nine Middle East countries. Birol states no country immune to effects, with Strait of Hormuz bottleneck halting 20% of global oil shipments. Nigeria should monitor fuel prices and potential supply chain impacts.