IEA Chief: Oil Gas Recovery Needs Two Years After War

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Published: 2 hours ago

IEA chief Fatih Birol warns oil and gas production recovery could take two years following Iran war damage. Hundreds of millions of barrels removed from market as Persian Gulf infrastructure and Strait of Hormuz face major disruptions. Oil supply shock strengthens USD through safe-haven demand and higher energy import costs for other nations. Commodity currencies like CAD and NOK may benefit from elevated oil prices, while energy-importing economies face currency pressure.

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