IEA chief: Hormuz closure puts global economy at risk

The head of the International Energy Agency (IEA), Fatih Birol, warned that the situation in the Middle East is serious and poses a real threat to the global economy following the closure of the Strait of Hormuz.

Speaking at a press conference in Canberra, Birol said the agency has approached governments in Asia and Europe about releasing additional oil reserves if needed, amid the ongoing war with Iran and its impact on global energy markets.

KAN 11