April 16, 2026

The world’s biggest energy crisis is here, and it’s headed straight for the global economy. IEA chief Fatih Birol warned that the pinch-off of oil and gas through the Strait of Hormuz will mean higher gasoline, gas and electricity prices, with inflation and growth taking the hit as the disruption drags on. He said the pain will slam hardest on developing nations in Asia, Africa and Latin America — with Japan, Korea, India, China, Pakistan and Bangladesh already on the front line — before it spreads to Europe and the Americas.

Oil, gas, electricity: one choke point could send prices soaring worldwide overnight!

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