International Energy Agency head says global economy faces ‘major, major threat’

The head of the International Energy Agency warned that the global economy faces a "major, major threat" stemming from the Iran war. The IEA chief's assessment reflects deep concern about disruption to global oil supplies and energy markets, given Iran's role as a major petroleum producer and the region's geopolitical volatility. Such a warning from the IEA—a prestigious international organization that monitors energy security—carries weight with policymakers and investors worldwide. Energy supply shocks can trigger inflation, recession, and broader economic instability across dependent economies. The statement underscores how military conflict in the Middle East poses outsized risks to the interconnected global economy.