World faces largest-ever oil supply disruption on Middle East war, IEA says
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try{ var _=i o; . if(!_||_&&typeof _==="object"&&_.expiry Oil prices rise 6% on Iraq tanker attacks, Oman port disruption Oil spikes above $100 a barrel; Adobe to report - what’s moving markets Gold prices dip below $5,200/oz as Iran war boosts oil, dollar Bank of America 2026 oil outlook: New price target issued 🧠 Upgrade to AI Insights (South Africa Philippines Nigeria) 🧠 Upgrade to AI Insights World faces largest-ever oil supply disruption on Middle East war, IEA says By Commodities Published 03/12/2026, 05:06 AM Updated 03/12/2026, 05:12 AM World faces largest-ever oil supply disruption on Middle East war, IEA says 0 CL 6.03% LONDON, March 12 - The war in the Middle East is creating the biggest oil supply disruption in the history of the global market, the International Energy Agency said on Thursday, a day after the agency agreed to release a record volume of oil from strategic stockpiles. Middle East Gulf countries have cut total oil production by at least 10 million bpd - a volume equal to almost 10% of world demand - as a result of the conflict, the agency said in its latest monthly oil market report. Without a rapid restart of shipping flows, these losses are set to increase, IEA said.
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