IEA: Oil prices will soon begin to reflect the severity of the crisis
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The official stated at an event hosted by the Atlantic Council that this conflict, as well as the near closure of the Strait of Hormuz, has resulted in about 13 million barrels of supply being halted daily. He warned that more than 80 energy facilities have already been damaged during the hostilities, and the recovery process could take up to two years. The Paris-based agency has previously described the current supply disruption as the most severe in history. Read more
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