IEA Head Says Current Oil Prices Don't Show Gravity Of Threat To Energy Markets Posed By Iran War

Source: International Business Times

AFP International Energy Agency head Fatih Birol said on Tuesday that current oil prices don't fully show the gravity that energy markets face as a result of the war in Iran and the Middle East in general. Speaking at the Semafor World Economy conference in Washington, Birol said that if the Strait of Hormuz is not opened soon oil prices could be much higher than the current ones. MORE-(Reuters) - Today's high oil prices do not reflect the gravity of the threat to global energy markets from the Iran war and could rise much higher if the Strait of Hormuz does not re-open, Fatih Birol, the head of the International Energy Agency, said on Tuesday.