IEA's Birol: Strait of Hormuz Trust Shattered, Global Energy Crisis Deepens - News and Statistics

The IEA warned that the Strait of Hormuz has been permanently damaged due to the closure, shattering trust in the waterway as a reliable route for global energy trade. IEA Executive Director Fatih Birol described the situation as a broken vase, highlighting unprecedented disruption in energy, foreign policy, and geopolitics. Continued trade disruption risks higher oil prices and reduced economic growth.