General · 22 May 2026
IEA chief warns oil markets nearing 'red zone'
Ordinary people could face huge price shocks for fuel, energy, and food, threatening summer travel. The International Energy Agency's executive director, Fatih Birol, warned oil markets will enter a "red zone" by July or August. This situation arises from a significant increase in demand, primarily due to the travel season, coupled with low stock levels and a reduction in Middle Eastern shipments abroad.
Reported by Guardian · How we write briefs