Middle East crisis live: IEA chief says Iran war energy crunch worse than 1970s oil crises and Ukraine war combined

The ongoing Middle East conflict has triggered a severe global energy crisis, with the International Energy Agency (IEA) warning it could be worse than the 1970s oil shocks and the Ukraine war combined. IEA chief Fatih Birol said the war has disrupted millions of barrels of oil and vast gas supplies, pushing prices above $100 per barrel. Key energy routes like the Strait of Hormuz remain threatened, worsening supply shortages. Several energy facilities have been damaged, and global markets are under pressure. Experts warn the crisis could fuel inflation, slow economic growth, and impact countries worldwide if the conflict continues