The International Energy Agency (IEA) has warned that the escalating confl ict in the Middle East continues to pose signifi cant risks to global energy security, despite emergency measures and alternative supply routes helping to stabilize oil and gas markets.
In a statement, IEA Executive Director Fatih Birol said the worsening security situation around the Strait of Hormuz and threats to the Bab el-Mandeb Strait have heightened concerns over global energy supplies and increased uncertainty in oil markets.
Birol noted that crude oil markets have so far been cushioned by continued exports from Gulf producers, particularly Saudi Arabia and the United Arab Emirates, which have redirected shipments through alternative routes while maintaining some exports via the Strait of Hormuz.