IEA to hold emergency meeting amid US-Israel-Iran war concerns

The International Energy Agency (IEA) is set to hold an emergency meeting

To address the ongoing conflict between the US, Israel, and Iran, which has caused significant disruption to global energy markets.

Oil prices have reached their highest levels since mid-2022 as concerns grow over the potential prolonged impact of the war.

The meeting aims to assess the current security of supply and market conditions, possibly leading to the release of emergency oil stocks.

The US and its allies, including the G7 countries, are closely monitoring the situation, with the Pentagon promising intense military actions against Iran.

The Strait of Hormuz remains a critical chokepoint, affecting global oil supplies.

EU leaders are also discussing energy prices and market stability.

IEA's Fatih Birol has emphasized the need for a swift and informed response to avoid a repeat of the 2022 energy crisis.