The executive director of the International Energy Agency (IEA), Fatih Birol, said he sees no credible pathway toward a normalization of the oil market in 2027, according to The Hindu.

The war has lifted oil above US$100 a barrel, from below US$70 before hostilities began, with diesel at record highs on refinery damage, and the IEA has organized the release of up to 400 million barrels of strategic reserves, with further releases admitted if warranted. Brent traded at US$110.30 and West Texas Intermediate (WTI) at US$99.12, both higher on Middle East supply fears, according to OilPrice, in a text published at the address recording the quotes.