What to know

• Fatih Birol, the International Energy Agency’s executive director, has said the energy crisis is “very severe” and that the global economy is “facing a major, major threat.” The situation, he said, is worse than the two consecutive oil crises in 1973 and 1979,...S1
• Energy crunch prompted by Iran war poses ‘major threat’ to global economy, Fatih Birol says. The world is facing a worse energy crisis than the twin oil shocks of the 1970s and the fallout of the Ukraine war combined, the head of the International Energy Agenc...S2
• Fatih Birol says world is losing 11m barrels of oil per day, more than the 1973 and 1979 energy shocks combined; IRGC threatens to completely close strait of Hormuz if Trump acts on infrastructure threatsIran vows to destroy Middle East water and energy facili...S3