Energy bodies warn of major disruptions from Iran War

Oliver Dean | 20th March 2026 | Trade Associations
The conflict in Iran continues to throw global energy chains into disarray (Photo by Stringer/Getty Images)
The conflict in Iran continues to throw global energy chains into disarray (Photo by Stringer/Getty Images)

The International Energy Agency, amongst other organisations, have warned of the knock-on effects of the conflict in the Middle East.

As the war in Iran continues, a number of energy bodies have warned of the disruption facing the sector, and the knock on effects that this will have on everyday consumers. The International Energy Agency has described the conflict as creating "the largest supply disruption in the history of the global oil market." In its March Oil Market Report, the agency said crude flows through the Strait of Hormuz had plunged from around 20 million barrels per day to a trickle, with Gulf producers forced to cut total output by at least 10 mb/d as storage fills up. On 11 March, IEA member countries unanimously agreed to release 400 million barrels from emergency reserves, which marked the largest coordinated stock release in the agency's 50-year history. The US alone committed 172 million barrels from its Strategic Petroleum Reserve. But the agency cautioned that while the release provides a "significant and welcome buffer," it "remains a stop-gap measure" absent a swift end to hostilities.  H...

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