IEA Chief Warns of Historic Global Energy Risk as Hormuz Blockade Deepens

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Source: CNBC
IEA Chief Warns of Historic Global Energy Risk as Hormuz Blockade Deepens
Photo: CNBC
TL;DR Summary

IEA chief Fatih Birol warns that the world faces its biggest energy-security threat in history due to the ongoing Strait of Hormuz closure and related disruptions, with about 13 million barrels per day of oil and products affected. He urges resilience through a faster shift to nuclear power, renewables, and possibly a coal rebound, and notes Europe could face a jet-fuel shortage; the IEA has released emergency stockpiles but says this is temporary—opening Hormuz remains the ultimate cure.

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