London, May 21, 2026 (AFP) - Oil market risks 'red zone' by summer, IEA chief warns

NAMPA / AFP

2026-05-21

The world oil market risks entering a "red zone" by the upcoming summer season should there be no progress on ending the Middle East war, the head of the International Energy Agency warned Thursday. "We may be entering the red zone (on supplies) in July or August if we don't see that there are some improvements in the (war) situation," Fatih Birol said at the Chatham House think tank in London. Iran has effectively halted tanker traffic through t......

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