IEA chief warns Hormuz tension threatens global energy security

International Energy Agency Executive Director Fatih Birol warned that the ongoing crisis in the Strait of Hormuz poses a serious threat to global energy security. Speaking at a Council on Foreign Relations event, Birol said oil security remains a critical issue and the world should be “worried” if the situation does not improve in the coming weeks.

He noted that a series of U.S. air strikes on Iranian coastal cities – including attacks on bridges in Bandar Abbas and the Bandar‑e Khamir bridge that left seven dead – have escalated tensions. Iran responded with missile and drone strikes on U.S. allies such as Kuwait, Bahrain and Jordan, and explosions were reported in Qatar. The escalation endangers the recently signed U.S.–Iran memorandum of understanding aimed at de‑escalating the conflict.

Birol stressed that about 20% of the world’s oil passes through the strait, and a prolonged closure could shock the global economy, especially Asian and developing‑nation markets. He cited rising LNG prices in Asia and Pakistan’s emergency spot‑LNG purchases at record rates as early signs of broader market disruption.