The head of the International Energy Agency, Fatih Birol, said that there is no reliable way to return to the conditions that existed before the conflict in the Persian Gulf. Oil prices are approaching $120 per barrel, and will be significantly higher over time than before the conflict between the US and Israel with Iran, while the shortage of diesel and fuel oil will continue until mid-2027, he told Reuters.

The head of the International Energy Agency, Fatih Birol, said that there is no reliable way to return to the conditions that existed before the conflict in the Persian Gulf. Oil prices are approaching $120 per barrel, and will be significantly higher over time than before the conflict between the US and Israel with Iran, while the shortage of diesel and fuel oil will continue until mid-2027, he told Reuters.