⚠️Oil prices have dropped below $100 per barrel again, but the International Energy Agency warns that the situation could still become much worse
🛢️ Oil prices have dropped from above $100, but they are still about 36% higher than before the Iran conflict began on 28 February. The International Energy Agency warns that the situation could become more serious as global supply remains under pressure. IEA chief Fatih Birol says current prices don’t fully show how serious the Middle East crisis is. He explained that oil shipped in March was loaded before the conflict, but in April, supply may drop sharply, making the situation worse
💥To reduce pressure, IEA countries already released 400 million barrels of oil. However, Birol said this is only 20% of their reserves, meaning more oil can be released quickly if needed to stabilize the market #SECEasesBrokerRulesforCertainDeFiInterfaces #USMilitaryToBlockadeStraitOfHormuz $SIREN $RIVER $OL
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