Dr Fatih Birol, IEA executive director, on the Strait of Hormuz crisis and global energy security

Description

The effective closure of the Strait of Hormuz has thrust the global energy system into acute crisis. The repercussions extend far beyond surging oil and gas prices: flight cancellations are mounting, fuel rationing is being introduced, and governments are rapidly revising fiscal plans to shield consumers and economies from shock. With markets swinging daily on the prospects of de-escalation between the US, Israel and Iran, global economic stability hangs in the balance. At this critical juncture, Dr Fatih Birol, executive director of the International Energy Agency, will assess the scale, duration and implications of the disruption for global energy supplies and what the world can expect in the coming months. Key questions: How sustained will the disruption be across global energy markets? What policy responses are proving most effective - and what lessons are emerging? Will this crisis accelerate or derail the energy transition? How are countries reshaping energy security strategies in real time? What role can the IEA play in coordinating a global response?