June 11, 2026
The global energy system has entered a period of acute structural stress following the strikes by the United States and Israel on Iran in late February 2026, and the subsequent disruption of flows through the Strait of Hormuz. According to the International Energy Agency, the resulting shock marks the most severe disruption to global energy markets since the 1970s oil crises, with systemic characteristics comparable to the combined effects of those crises and the 2022 Russia-Ukraine ...

