24-April-2026
Economy News
 
Explainer-How the Iran War Oil and Gas Supply Shock Compares With Past Disruptions
22-Apr-2026

The U.S.-Israeli war with Iran and the closure of the Strait of Hormuz have caused the biggest oil supply disruption on record by daily output lost, though at least one earlier shock had a greater cumulative impact, according to Reuters calculations based on International Energy Agency and U.S. Department of Energy data. The IEA said on Tuesday that the conflict is the worst energy crisis the world has faced, when combined with the tail end of the European gas crisis caused by Russia's invasion of Ukraine in 2022.

News Source:- https://money.usnews.com/investing/news/articles/2026-04-22/explainer-how-the-iran-war-oil-and-gas-supply-shock-compares-with-past-disruptions