IEA Executive Director Fatih Birol said the single most important solution to the Iran war energy shock is a full and unconditional reopening of the strategically vital Strait of Hormuz, warning that oil markets could hit a 'red zone' in July-August.

IEA Executive Director Fatih Birol said the single most important solution to the Iran war energy shock is a full and unconditional reopening of the strategically vital Strait of Hormuz.