Story perspectives
Middle East Conflict Causes Major Oil Disruption, Prices Surge
4/21/2026
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Story summary
- The International Energy Agency reported on April 21, 2026, that the Middle East conflict caused the largest oil disruption.
- Iran's attacks on tankers cut Strait of Hormuz flow from 20 million barrels daily to nearly zero.
- IEA member states released 400 million barrels from reserves, yet prices rose above $100 per barrel.
- Pakistan and South Korea implement fuel-demand measures.
- TotalEnergies announced a price cap on gas and diesel in France.
