Paris, France – The International Energy Agency (IEA) revealed over 40 energy assets across nine Middle East countries suffered severe or very severe damage from the United States-Israeli war against Iran now exceeding three weeks, threatening prolonged global supply disruptions beyond conflict’s end.
Okay News quotes IEA Executive Director Fatih Birol from Australia’s National Press Club: damage to oil fields, refineries, pipelines, petrochemicals, fertilizers, sulfur, and helium creates 1970s oil crises plus 2022 Russia-Ukraine gas shock “all put together,” with Strait of Hormuz near-halt since February 28 choking trade arteries.
Asia bears heaviest impact from regional crude dependence, as China’s fuel export curbs draw Birol’s caution against unjustified restrictions eroding international goodwill; IEA proposes demand cuts while holding oil reserves ready for release if disruptions worsen.
Birol stressed Hormuz reopening as sole true fix, following 12 nations’ call condemning Gulf attacks on QatarEnergy and others while demanding facility protection; President Trump’s 48-hour ultimatum demands Iran clear the strait or face power plant strikes.
The scale compounds crude surges past $112/bbl, kerosene/heating oil spikes, and Dangote Refinery’s African fuel lifeline role as importers scramble; prolonged repairs signal multi-month supply gaps hitting global growth amid Trump’s de-escalation push.
 revealed over 40 energy assets across nine Middle East countries suffered severe or very severe damage from the United States-Israeli war against Iran now exceeding three weeks, threatening prolonged global supply disruptions beyond conflict's end.){kind=link}