News Summary

• The head of the International Energy Agency, Fatih Birol, says we are facing the biggest energy crisis ever.
• The US-Israel war on Iran is driving the crisis, which has disrupted global shipping in the Strait of Hormuz.
• The Russia-Ukraine war is putting additional strain on the oil industry, as both countries target each other’s energy facilities.
• Birol says it will take time for the energy sector to recover from this crisis, and he acknowledges the industry will likely never be the same again.