IEA Chief Warns Europe: Don't Turn Back To Russian Gas Amid Middle East Crisis

• IEA Executive Director Fatih Birol cautioned Europe against reconsidering reliance on Russian gas despite the escalating Middle East crisis.
• Attacks on energy infrastructure and shipping routes in the Gulf have raised energy security concerns in Europe.
• Birol stated there is no global oil shortage, with the market currently holding a "huge surplus" of supply capacity.
• The main issue affecting energy markets is logistics and transportation, not production, due to disruptions in conflict zones.
• Shipping through the Strait of Hormuz, a key global route, is severely affected, causing delays and higher transport costs.