The International Energy Agency forecasts recovery after the closure of the Strait of Hormuz, noting that Middle East losses are less severe than Americas output.

The entities involved

• International Energy Agency →

  autonomous intergovernmental organisation

  • Norway demonstrates successful model for energy transition.Mon 17:08
  • Disputes intensified over foreign policy comparisons in the Middle East, driving oil market volatility.Mon 14:11
• Hormuz →

  city in Hormozgan Province, Iran

  • US-Iran truce aims to reopen Strait of Hormuz amid global monetary policy shifts and oil price drops.Mon 17:37
  • Talks regarding an Iran deal are underway, with a ceasefire reached after deadly exchanges, and Trump supporting Israel.Mon 17:12
• Middle East →

  geopolitical region encompassing Egypt and most of Western Asia, including Iran

  • A US Air Force base in Fairford, located near the Oxfordshire border, is being utilized due to actions in the Middle East.Mon 17:54
  • Authorities are investigating an incident at a base in Fairford, with possible links to Iran and Russia.Mon 17:54

Related events

• Strait closure threatens global energy supplies following attacks on shipping in the Middle East.Aug 12
• The closure of the Strait of Hormuz has impacted global energy markets, leading to the removal of 10-12 million barrels a day of crude oil from global supplies.Jun 11
• A power outage caused production to halt at the Exxon Mobile Refinery in Joliet, amidst the ongoing Middle East crisis and resulting supply chain disruptions.Sep 18
• Pressure at Hormuz affects Middle Eastern supply lines, while El Niño prompts Panama Canal conservation measures and US-China trade recovers.Thu 12:03
• The US predicts the Strait of Hormuz will become worthless amid geopolitical shifts, coinciding with the G20 gathering in Asheville.Sep 8