IEA Birol says It will take about two years to recover the energy output lost in the Middle East from the conflict there, via Amena Bakr citing an interview with NZZ newspaper
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Iran Foreign Ministry Spokesperson says we have not had any discussions about extending the ceasefire so far, via Fars News
IEA Birol says It will take about two years to recover the energy output lost in the Middle East from the conflict there, via Amena Bakr citing an interview with NZZ newspaper
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US Baker Hughes Oil Rig Count (Apr/17) 410
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Context
The IEA's statement underscores the potential for extended energy supply disruptions due to the conflict in the Middle East. Given that the recovery period is projected to be around two years, this could keep energy prices elevated and influence commodity markets substantially. Traders should consider how this might affect global supply chains and inflationary pressures in energy-dependent sectors.
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