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IEA warns Iran-Israel war spikes kerosene demand, UK fuel crisis.

4/26/2026

50 11 Full Breakdown

Summary

Story summary

Fatih Birol of the International Energy Agency says Iran-Israel war has sparked a crisis reshaping markets.
He warned kerosene demand will rise 40%, risking cancellations and prices, and said UK licences will not cut bills or improve security because reserves are 90% depleted.
Tessa Khan of Uplift warned the oil lobby’s push for drilling could lock the UK into fossil fuels as 50 governments meet in Colombia on the crisis.

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Story summary

Fatih Birol of the International Energy Agency says Iran-Israel war has sparked a crisis reshaping markets.
He warned kerosene demand will rise 40%, risking cancellations and prices, and said UK licences will not cut bills or improve security because reserves are 90% depleted.
Tessa Khan of Uplift warned the oil lobby’s push for drilling could lock the UK into fossil fuels as 50 governments meet in Colombia on the crisis.