The head of the International Energy Agency, Fatih Birol, has warned that global energy markets could face serious pressure if tensions around the Strait of Hormuz continue.
He said that if the strait remains blocked or restricted, energy prices could rise sharply. That would likely impact economies around the world, especially those heavily dependent on oil and gas imports.
Birol also noted that the agency is prepared to act if needed. One option on the table is releasing additional supplies from emergency reserves to help stabilize the market.
The message is clear: the situation in the Strait of Hormuz is being watched very closely, and any disruption there could quickly affect global energy prices and supply.
