The current energy crisis is the most serious since 1973, 1979 and 2002 combined, says the International Energy Agency

The existent vigor situation caused by the blockade of the Strait of Hormuz is “more superior than those of 1973, 1979 and 2002 combined”, says Fatih Birol, caput of the International Energy Agency (IEA), successful Le Figaro.

“The satellite has ne'er experienced an interruption successful the vigor proviso concatenation connected specified a scale, helium said successful an interrogation published successful Tuesday’s paper, stressing that European countries, arsenic good arsenic Japan, Australia and others, would beryllium affected, but the countries astir astatine hazard are processing countries, which volition endure the consequences of higher oil and gas prices, higher food prices and a wide acceleration of inflation.

IEA subordinate states agreed past period to dispose of immoderate of their strategical reserves. Some of these had already been allocated and the process was ongoing,
said Birol.

In effect to the Israeli and US attacks, Iran has astir wholly blocked postulation astatine Hormuz, done which astir 20% of the world’s lipid and state regularly flows, causing vigor prices to soar.