A global energy crisis, triggered by the Iran-United States conflict and the closure of the Strait of Hormuz, is causing soaring fuel prices and dwindling supplies worldwide, forcing countries to adopt emergency measures.

• The International Energy Agency (IEA) is calling the situation the largest supply disruption in history, surpassing the 1973 oil embargo.
• Over 400 million barrels of oil have been released from strategic reserves by IEA member countries in a coordinated effort to stabilize supply.
• The crisis is accelerating a global shift towards alternative energy sources and electric vehicles.