Middle East war worse than 1970s oil crisis, 2022 gas dispute: IEA

The oil crisis following the Middle East conflict is far more severe than the oil shocks of the 1970s and the 2022 Russian gas disruption combined, said an International Energy Agency chief, Fatih Birol. He warned that the crisis poses wider risks to energy security and economic stability. Further, he added, that oil loss is expected to widen in April.