Overview
- International Energy Agency head Fatih Birol said the conflict could unleash the biggest energy crisis in history.
- Brent crude hovered near $95 a barrel after a sharp jump as traders waited for signs of talks between Washington and Tehran.
- Tanker movements through the Strait of Hormuz, which carries about one-fifth of seaborne oil and liquefied natural gas, have been disrupted.
- The IEA organized a record 400 million‑barrel release from strategic reserves in March to cool prices and support supply.
- Negotiations remain uncertain as the United States prepared a delegation to Pakistan and Iran has not confirmed a second round of talks before a ceasefire deadline.