The Mother Of All Energy Crises Is Just Beginning, IEA Warns — April Will Be 'Much Worse'

The International Energy Agency (IEA) has warned that the ongoing energy crisis, exacerbated by the Iran war, is the most severe in modern history, with an estimated loss of 12 million barrels per day in oil supply. IEA Executive Director Fatih Birol stated that April is expected to be 'much worse' than March, potentially leading to significant global disruptions similar to the oil shocks of the 1970s. The crisis is already impacting energy-linked assets, with benchmark crude prices surging and various ETFs, including the Energy Select Sector SPDR Fund, outperforming as investors shift towards oil producers and services.