<p>Paris: The conflict between <a href="https://www.deccanherald.com/tags/iran">Iran</a> and the United States and Israel is creating the worst energy crisis ever faced by the world, the head of the International Energy Agency (IEA) said on Tuesday.</p><p>"This is indeed the biggest crisis in history," Birol told <em>France Inter radio</em> in an interview broadcast on Tuesday.</p><p>"The crisis is already huge, if you combine the effects of the petrol crisis and the gas crisis with Russia," he added.</p><p>The war in the <a href="https://www.deccanherald.com/tags/middle-east">Middle East</a> has choked up maritime traffic in the Strait of Hormuz, which is a conduit for a fifth of global oil and liquefied natural gas flows.</p>.3 reasons war between US, Israel and Iran is headed for frozen conflict.<p>It has also come on top of the effects of Russia's war with Ukraine, which had already severed Russian gas supplies to Europe.</p><p>Birol had said earlier this month that he viewed the current situation in global energy markets as worse than previous crises in 1973, 1979 and 2022 combined.</p><p>In March, the IEA agreed to release a record 400 million barrels of oil from strategic stockpiles to combat rising oil prices caused by the US-Israeli war with Iran.</p>
<p>Paris: The conflict between <a href="https://www.deccanherald.com/tags/iran">Iran</a> and the United States and Israel is creating the worst energy crisis ever faced by the world, the head of the International Energy Agency (IEA) said on Tuesday.</p><p>"This is indeed the biggest crisis in history," Birol told <em>France Inter radio</em> in an interview broadcast on Tuesday.</p><p>"The crisis is already huge, if you combine the effects of the petrol crisis and the gas crisis with Russia," he added.</p><p>The war in the <a href="https://www.deccanherald.com/tags/middle-east">Middle East</a> has choked up maritime traffic in the Strait of Hormuz, which is a conduit for a fifth of global oil and liquefied natural gas flows.</p>.3 reasons war between US, Israel and Iran is headed for frozen conflict.<p>It has also come on top of the effects of Russia's war with Ukraine, which had already severed Russian gas supplies to Europe.</p><p>Birol had said earlier this month that he viewed the current situation in global energy markets as worse than previous crises in 1973, 1979 and 2022 combined.</p><p>In March, the IEA agreed to release a record 400 million barrels of oil from strategic stockpiles to combat rising oil prices caused by the US-Israeli war with Iran.</p>