The Economic Times

Middle East crisis worse than the 1970s oil shocks and 2022 Russian gas disruption combined, IEA chief Birol says; 40 key energy assets damaged

The world is witnessing unprecedented turmoil in energy markets as tensions in the Middle East escalate beyond previous oil crises. With over 12 million barrels of oil gone, jet fuel and diesel shortages are currently plaguing Asia and are anticipated to spill over into Europe shortly.