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Global Energy Crisis Deepens

Global Energy Crisis Deepens

The effective closure of the Strait of Hormuz has sent global energy markets into a tailspin, leading to record-high fuel prices and looming shortages.

International Energy Agency officials warn that the loss of Middle Eastern energy output could take at least two years to fully recover.

This instability is driving a strategic shift toward nuclear energy in developing regions, with dozens of countries in Asia and Africa now fast-tracking atomic power projects.

Meanwhile, major airlines are warning of potential flight cancellations as jet fuel reserves reach critical levels across Europe and parts of Asia.

Strait of Hormuz
Strait between the Gulf of Oman and the Persian Gulf
Fatih Birol
Turkish economist and energy expert
Iran
Country in Western Asia
Europe
Terrestrial continent located in north-western Eurasia