•The International Energy Agency (IEA) stated that the war in West Asia has caused the largest oil supply disruption in history.
•Oil flows through the Strait of Hormuz have nearly halted, pushing crude prices above $100 per barrel and squeezing global fuel supplies.
•The IEA outlined ten immediate demand-side measures for governments, businesses, and households, emphasizing that supply-side actions alone are insufficient.
•The Strait of Hormuz typically carries 20% of global oil consumption, with current flows reduced to a trickle.
•IEA member countries released 400 million barrels from emergency reserves, but demand reduction is deemed critical to mitigate the crisis.
