Iran war energy crisis equal to 70s twin oil shocks and fallout from Ukraine war , says IEA chief

The International Energy Agency chief warned that the current energy crisis, stemming from bombings in Iran and the closure of the Strait of Hormuz, is equivalent to the 1970s oil shocks combined with the Ukraine war fallout. This situation has led to significant daily oil and gas losses, prompting the IEA to consider further strategic reserve releases and demand-side measures.