Oil Crisis Deepens as Iran War Drags On, While AI's Fossil Fuel Paradox Emerges

Global oil markets face their tightest supply squeeze in five years as the Iran war enters a new phase of grinding attrition. The International Energy Agency (IEA) reported a 1.8 million barrel-per-day supply shortfall this quarter — more than double earlier projections — driven by "renewed hostilities and maritime disruptions" that have derailed Middle East production recovery. For the full year, the deficit will be the widest since 2020, even as high fuel prices slash global...