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Business · Video brief

Oil markets nearing ‘red zone’ as Iran crisis continues, warns IEA chief

Global oil markets are entering a critical phase as reserves shrink and demand surges. The IEA warns that the situation could surpass historical oil shocks, urging immediate action in the Middle East. A shift towards renewable energy may be...

The Guardian· May 21, 2026 · 6:08 PM · 2 views

Global oil markets are entering a critical phase as reserves shrink and demand surges. The IEA warns that the situation could surpass historical oil shocks, urging immediate action in the Middle East. A shift towards renewable energy may become inevitable. #OilCrisis #EnergyNews #MiddleEast #IEA #Renewables

Originally reported by The Guardian. Read the full story →

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