Kathmandu. Tensions in the Middle East are rising due to the Iran war. Today is Monday, the 24th day of the war. This war has increased the price of crude oil. Brent crude oil prices have been above $100 a barrel for several days.
Meanwhile, the head of the International Energy Agency (IEA) has issued a warning. This has raised concerns globally. He warned that no country is untouched by conflicts in the Middle East. Every country will be affected by the economic devastation caused by this war.
IEA chief Fatih Birol warned that the war in Iran posed a “serious threat” to the global economy. “This war will create a global energy crisis. “The energy crisis caused by the Iran war is on par with the 1970 Russia-Ukraine war and the 2022 war,” he said at the National Press Club gathering in Australia. ’
How big is this crisis?
Birol said the crisis was “significantly larger”. “The crisis caused by the Iran-Israel/US war is equivalent to two oil crises and one gas crisis,” he said. Moreover, this war poses a significant threat. ’
Birol noted that during the two oil crises of the 1970s, the world suffered a total loss of 10 million barrels per day. “In contrast, today’s supply has fallen by 11 million barrels per day,” he said, “which is more than the previous two big shocks.” ’
4 oil damage{
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Birol also warned the world that if the crisis continues in this direction, no country will be able to escape its consequences. “An urgent global response is needed,” he said, adding that wars in the Middle East or the Middle East could cause serious or severe damage to 40 energy assets in at least nine countries. ’
Ask to open Hormuz
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The war of words between Tehran and US President Donald Trump has intensified as the war enters its fourth week. President Donald Trump has called for the reopening of the Strait of Hormuz. About 20 percent of the world’s oil and gas transportation passes through this route. Due to this obstruction, the movement of petroleum products has almost stopped. –Agency
