PARIS, October 23 (ANI) — International Energy Agency (IEA) chief Fatih Birol has warned that the world is running out of options to keep energy prices at current levels as fuel prices face continued pressure from the U.S.-Iran conflict.
Speaking to Al Jazeera, Birol said, “I really hope that both of the straits will be unconditionally opened sometime soon; otherwise, in the energy world, we don’t have much more buffer zones to still keep the prices at a certain level as we have today.”
Birol’s warning comes as U.S. President Donald Trump signaled Thursday that Washington could intensify its pressure campaign against Iran if necessary.
“This should have been done a long time ago by other Presidents. We’ve knocked the hell out of them, and we may go a little further,” Trump said.
Earlier, in a post on Truth Social, Trump accused Iran’s leadership of manufacturing crises to artificially drive up global crude oil prices ahead of the upcoming U.S. midterm elections. He also reiterated that Iran must never be allowed to acquire nuclear capabilities.
“Iran is doing everything they can to drive up the price of Oil prior to the U.S. Midterm Election. They are even making up fake hits, mines, and everything else, because more Oil is coming through the Hormuz Strait now than it did even prior to the beginning of the Conflict. They continue to kill protestors, and anyone else that happens to be in their way. It is truly an Evil Regime, and I can only hope the American Public, and the World, understands how EVIL they are! 75,000 protestors lie dead in less than seven months,” Trump claimed.
Meanwhile, Birol warned that Europe is entering winter with significantly lower-than-usual natural gas reserves and may struggle to withstand further supply disruptions.
“The best day for a ceasefire would have been yesterday,” he told Al Jazeera.
“Normally before the winter, European countries have a lot of gas stocks, but the gas stocks we have while we are entering this winter are much lower than historical averages,” he said.
“I think if we have a harsh winter, we may see higher prices of natural gas in Europe. Life will not be easy for Europe this year and also next year,” he added.
Natural gas prices in Europe have faced pressure from two major factors: the conflict in West Asia and the continuing standoff between Ukraine and Russia. (ANI)
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