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The Latest Breaking News from the International Energy Agency

Crude Prices Soar as Iran War Keeps Strait of Hormuz Closed

May WTI crude oil (CLK26 ) on Thursday closed up +11.42 (+11.41%), and May RBOB gasoline (RBK26 ) closed up +0.1966 (+6.36%). Crude oil and gasoline prices rallied sharply on Thursday, with crude posting a 3.5-week high. Crude prices are soaring after President Trump pledged more aggressive action against Iran...

Barchart

Crude Prices Surge as President Trump Vows to Escalate Iran War

May WTI crude oil (CLK26 ) today is up +10.20 (+10.19%), and May RBOB gasoline (RBK26 ) is up +0.1174 (+3.80%). Crude oil and gasoline prices are sharply higher today, with crude posting a 3.5-week high. Crude prices are rallying after President Trump pledged more aggressive action against Iran over...

Barchart

Stopgap measures aren't enough to halt rising gas prices as the world scrambles for more oil

Global leaders have been scrambling to contain the rising cost of oil and gasoline since the start of the Iran war

The Independent UK

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Italy's PM Meloni plans closer cooperation with Algeria to boost gas deliveries

Italy, which generates more than 40% of its electricity from natural gas according to the International Energy Agency, has been negotiating with various countries to replace lost LNG supplies from Qatar.

Euronews

Blackrock boss warns of ‘stark global recession’ if oil prices hit $150 due to Iran war

Larry Fink warns those on lower incomes will be harder hit than the wealthy if energy prices continue to soar

The Independent UK

Is the World Heading for an Energy Lockdown in 2026? Oil Prices, Blackouts, and What's Really Coming

The crisis stems from escalating conflict involving the United States, Israel, and Iran, with the Strait of Hormuz emerging as the critical choke point.

International Business Times UK

Drivers do not need to slow down or change how they buy fuel – minister

Michael Shanks insisted British drivers did not need to change their habits, despite suggestions from the International Energy Agency.

Evening Standard

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Australia has plenty of diesel for now. But running out could upend our economy

It’s been hard to ignore growing fears of a looming fuel shortage in Australia. Conflict in the Middle East has led to what the International Energy Agency has called the “largest supply disruption in the history of the global oil market”.

The Conversation

Over 400 million barrels will be added to the oil market soon – what are strategic reserves and what can they do?

In the second week of the Iran war – with the Strait of Hormuz effectively closed, cutting off shipping of 20% of the world’s oil supply – the International Energy Agency announced the largest release of strategic oil reserves in history. Thirty-two countries will sell a combined 412 million barrels…

The Conversation

World Oil Prices Surge to Near $113 as US-Iran Conflict Disrupts Strait of Hormuz Flows on March 23, 2026

Global oil prices climbed sharply Monday amid persistent disruptions to the Strait of Hormuz caused by the ongoing U.S.-Iran conflict, with Brent crude benchmark rising to around $113 per barrel as supply fears intensified in the fourth week of hostilities.

International Business Times

Newsletter: Hungary accused of briefing Moscow on sensitive EU talks

Also today: The results from a nail-biting parliamentary election in Slovenia and French muncipal runoffs considered a political litmus test a year before a pivotal presidential ballot.

Euronews

IEA: Global economy faces ‘major, major threat’ because of Iran war

War in the Middle East has 'severely' damaged more than 40 energy assets across nine countries, said the head of the International Energy Agency, as he warned of deepening risks to the global economy.

Euronews

International Energy Agency head says global economy faces ‘major, major threat’ because of Iran war

The head of the International Energy Agency head says the global economy faces a “major, major threat” because of the Iran war

The Independent UK

IEA urges swift cuts in oil demand, encourages remote work, less air travel

As the war in the oil-rich Middle East keeps escalating, the International Energy Agency is calling on governments to take measures to reduce oil demand by pushing remote working, reducing speed limits and encouraging a shift towards public transport.

Euronews

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Latin Times

Ruben Gallego Wants Energy Department To Elaborate On Its Oil Reserve Release Plan

Last week, the DOE announced a plan to release 172 million barrels of oil as part of a broader planned release of 400 million barrels from various member governments of the International Energy Agency.

International Business Times UK

Trump Administration Eliminated Energy Experts Who Model Oil Market Shocks Ahead Of Iran Strikes — Elevates Risk Of Price Surges

Cuts to US energy offices under the Trump administration are under scrutiny as Iran war strikes rattle oil markets and complicate efforts to manage the global energy crisis.

International Business Times

IEA Releases 400 Million Barrels from Reserves to Ease Energy Prices

The International Energy Agency released 400 million barrels of oil from reserves to stabilize global energy markets disrupted by the Strait of Hormuz crisis.

The Independent UK

Largest ever oil reserves released as Iran war fuels price rises

The Middle East conflict has seen oil prices surge as the flow of oil tankers has effectively stopped

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Radio France Internationale

War creating 'largest' oil shock in history as Iran hits new Gulf targets

The Middle East war is creating the biggest oil supply shock in history, the International Energy Agency warned Thursday, as Iran launched a new wave of attacks against Gulf energy targets that sent prices spiking above $100 a barrel.

Barchart

Cotton Closes Lower on Wednesday

Cotton futures were 5 to 13 points in the red on Wednesday. Crude oil was back up another $5.44 on Wednesday, adding some premium pack in as the Iran situation continues to unfold despite the International Energy Agency agreeing to release 400 million barrels of ethanol reserves. The US dollar...

The Mary Sue

IEA’s ‘unprecedented’ oil release was supposed to fix everything, yet the market had a chilling response

The International Energy Agency (IEA) announced this week that its member countries unanimously agreed to release a massive 400 million barrels of oil from their strategic reserves, an unprecedented move aimed at stabilizing soaring prices, but the market’s response was, frankly, a bit chilling. Despite this huge injection of potential…

Barchart

Cotton Slipping Lower on Wednesday

Cotton futures are 5 to 11 points in the red at midday. Crude oil is back up another $3.03 on Wednesday, adding some premium pack in as the Iran situation continues to unfold despite the International Energy Agency agreeing to release 400 million barrels of ethanol reserves. The US dollar...

Axios

IEA announces historic oil reserve release amid Iran war

It would be the largest joint release in the International Energy Agency's history.

International Business Times

Iran War Sparks Largest Ever Oil Reserve Release

The International Energy Agency unanimously agreed to release 400 million barrels of oil from emergency reserves in response to the Iran war.

The Independent UK

400 million barrels of emergency oil reserves to be released to calm surging prices

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