Hormuz Crisis Leaves Lasting Mark on Oil Markets as Demand Slumps, IEA Says
AI Summary
The International Energy Agency warns that the Hormuz crisis has caused a significant decline in global oil demand, altering trade flows and impacting oil markets worldwide. The conflict around the Strait of Hormuz continues to disrupt energy supplies.
The International Energy Agency has sharply downgraded its outlook for global oil demand, warning that months of conflict centered on the Strait of Hormuz have fundamentally altered trade flows, drained...