Global Energy Crisis Warning Amid West Asia Conflict!

The world is facing an unprecedented threat of an energy crisis not seen in decades, warned International Energy Agency (IEA) chief Fatih Birol amid escalating tensions in West Asia. He revealed that more than 40 energy facilities in the region have reportedly been destroyed, raising serious concerns over global fuel supply stability. The ongoing conflict has intensified fears of supply disruptions, which could significantly impact international markets and lead to severe volatility in oil and gas prices.

Birol stated that the current situation could surpass the oil and gas crises witnessed during the 1970s and the Russia-Ukraine war. He cautioned that the global economy is now under a major threat, as many nations are already struggling with inflation and slowing growth. Drawing parallels with the 1973 oil embargo and past geopolitical shocks, he emphasized that the present crisis combines multiple risks, making it even more dangerous. He urged global leaders to prioritize diplomatic efforts to stabilize the situation and prevent further economic damage.