- The International Energy Agency has warned that global oil stockpiles are rapidly depleting amid the Iran war.
- The global energy watchdog has urged a deal to reopen the Strait of Hormuz, saying that the “urgency” of such an agreement has increased.
- Global oil supply is projected to fall by 4.3 million barrels per day in 2026 due to production losses in the Middle East and Russia.
- Meanwhile, President Donald Trump claims that US forces maintain complete control over the Strait of Hormuz, threatening military action against any interference.
- US forces fired missiles at a Panamanian-flagged vessel in the Gulf of Oman after accusing it of trying to breach a blockade on Iranian ports.
IN FULL
