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Hormuz Choke: IEA Declares Largest Oil Supply Disruption in History, From 20 Million Barrels to a Trickle
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IEA: Hormuz Choke Largest Oil Disruption in History Amid US-Iran War
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Firstpost
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12-03-2026, 22:41
IEA: Hormuz Choke Largest Oil Disruption in History Amid US-Iran War
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IEA reports US-Israeli war with Iran caused the largest global oil market disruption ever.
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Oil flows through the Strait of Hormuz, handling 20% of world supply, plummeted from 20 mn barrels/day to a trickle.
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Trump administration focused on energy costs, considering naval escorts and relaxing sanctions on India's Russian oil.
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IEA warns global oil supply to fall by 8 mn barrels/day in March; members pledged to release 400 mn barrels.
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US Central Command is striking Iranian vessels in Hormuz; Trump downplays economic impact, prioritizing stopping Iran's nuclear weapons.
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