The Director of the International Energy Agency, Fatih Birol, said in a statement on France Inter radio, broadcast on Tuesday, that the world is facing the largest energy crisis ever due to the war between Iran on the one hand and the United States and Israel on the other hand. Birol said, "This is truly the biggest crisis in history." This crisis came in addition to the effects of the Russian war on Ukraine, which cut off Russian gas supplies to Europe.

Published on: 04/21/2026 - 10:41

The world is facing the worst energy crisis ever due to the Middle East war, according to a statement by the Director of the International Energy Agency, Fatih Birol, on Tuesday.

In an interview with France Inter radio broadcast on Tuesday, Birol considered that “this is indeed the biggest crisis in history.” He added, "The crisis is truly huge, if we combine the effects of the oil crisis and the gas crisis linked to Russia."

Read also Live: Trump considers recovering Iranian uranium a “long and difficult process”

The war in the Middle East disrupted maritime traffic in the Strait of Hormuz, a waterway through which about a fifth of the world's oil and liquefied natural gas supplies pass.

This crisis also came in addition to the effects of the Russian war with Ukraine, which had already cut off Russian gas supplies to Europe. Birol had said earlier this month that he believes that the current situation in global energy markets is worse than the previous crises in 1973, 1979 and 2022 combined.

In March, the International Energy Agency agreed to withdraw a record amount of 400 million barrels of oil from strategic reserves to confront rising oil prices resulting from the US-Israeli war on Iran.

Read also: Expected negotiations in Pakistan between Washington and Tehran amid tension in the Strait of Hormuz

Oil falls with the expectation that US-Iran talks will resume

Oil prices fell on Tuesday, reversing the gains they made in the previous session, amid expectations for peace talks between the United States and Iran this week, which will allow more supplies to flow from the Middle East.

Brent crude futures fell 95 cents, or one percent, to $94.53 by 00:03 GMT. US West Texas Intermediate crude futures for May delivery fell $1.54, or 1.72 percent, to $88.07.

May contracts expire on Tuesday, and the most active June contracts fell $1.09, or 1.3 percent, to $86.37.

Both crude oils rose on Monday, with Brent crude rising 5.6 percent and West Texas Intermediate crude rising 6.9 percent after Iran closed the Strait of Hormuz again, blocking the main oil transport artery, and the United States detained an Iranian cargo ship as part of its blockade of the country's ports.

The siege...the big obstacle

However, investors are focusing on the possibility that talks this week will lead to an extension of the current ceasefire or a final agreement, although the possibility of renewed conflict and disruption of oil shipping remains.

A senior Iranian official told Reuters on Monday that his country is considering participating in peace talks in Pakistan, following efforts by Islamabad to end the US blockade.

The blockade represents a major obstacle to Tehran's return to peace efforts, while the current two-week ceasefire is about to expire.

France 24/Reuters

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