International Energy Agency warns Iran war is causing a historic energy crisis

The International Energy Agency says the war in Iran is the biggest threat to global energy security in history, damaging over 40 energy facilities in the Middle East. The agency's chief, Fatih Birol, stated the crisis is worse than the 1970s oil shocks and the fallout from the Ukraine war combined, posing a major threat to the global economy. The IEA is considering releasing more oil reserves in response.