Global energy security at risk if Strait of Hormuz does not open in weeks, IEA chief says

IEA Executive Director Fatih Birol warned that if the U.S. and Iran do not increase oil flows through the Strait of Hormuz soon, global energy security risks rise. The implication is higher supply risk for crude markets tied to the chokepoint, which can feed directly into energy prices and related volatility.

Analysis

IEA Executive Director Fatih Birol warned that if the U.S. and Iran do not increase oil flows through the Strait of Hormuz soon, global energy security risks rise. The implication is higher supply risk for crude markets tied to the chokepoint, which can feed directly into energy prices and related volatility.