US-Iran War Triggers Worst Energy Crisis in History, IEA Warns

by | Apr 21, 2026 | News

red and black metal tower during sunset

The head of the International Energy Agency, Fatih Birol, declared this week that the conflict between the United States, Israel, and Iran has produced the worst global energy crisis ever recorded, surpassing even the crises of 1973, 1979, and 2022 combined.

The war has severely disrupted shipping through the Strait of Hormuz, through which roughly a fifth of the world’s oil and liquefied natural gas flows. Combined with the ongoing cutoff of Russian gas supplies to Europe stemming from the Ukraine war, the dual crises have created a historic squeeze on global energy markets. The IEA earlier released a record 400 million barrels from strategic reserves in an attempt to stabilize prices.

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