Global economy could enter red zone if Strait of Hormuz isn't opened: IEA

International Energy Agency has warned that global economy could face heightened risks if Strait of Hormuz is not fully reopened. "If we're not able to see...unconditional opening of Strait of Hormuz by end of June, July, and August...we may be entering...'red zone'...especially...those in Asia," IEA Executive Director Fatih Birol said. "When we enter this crisis, we hit buffers," he stated.