IEA Warns: Iran War Threatens Global Economies

0:00The head of the International Energy Agency warns that the ongoing war in Iran poses a huge risk to economies worldwide. He says the combined effects on oil and gas markets are worse than the 1970s oil crises or the disruptions from the Russia-Ukraine. Conflict, no nation will escape the fallout if things keep escalating. Recent strikes have ramped up detention. Israel hit targets in Tehran early Monday, while a top U.S. commander urged people in Iran to stay in shelters. Iran fired back in neighbors in the Gulf and warned it might target their power grids next. Damage reports are grim, with 40 energy facilities across nine countries badly hit, that includes refineries, pipelines, and production sites shaking global supply chains already under strain. Iran's grip on the straight-of-form moves is tightening, blocking key shipping lanes. President Trump issued a 48-hour deadline via social media, demanding a reopen or face U.S. strikes on Iran's power plants. Agency leaders plan to monitor markets closely and consult

1:03members before any emergency moves as the world braces for longer-term shortages and price. Spikes. You've been listening to Canada News today, AI-powered local news.