Energy Crisis Deepens in Strait of Hormuz Amid Conflict in West Asia

The energy crisis in the Strait of Hormuz surrounding the conflict in West Asia is deepening. Fatih Birol, head of the International Energy Agency (IEA), warns that oil supply problems in April could double compared to March. This will have a direct impact on Europe's energy situation. According to the IEA, the conflict in West Asia has already reduced oil supplies by about 12 million barrels per day. Oil wells and refineries - some 40 of the most important energy infrastructure in West Asia - have been damaged by political tensions. This is straining global energy supplies and raising fears of price hikes. The Strait of Hormuz has become the focal point of the crisis. About 20 percent of the world's oil is delivered through this route. The unrest in international markets has reached its peak as Iran has virtually blocked this waterway. The situation has been further complicated by Iran's new decision to impose a high toll on shipping through the strait. Sources claim that the US may impose a toll of up to $2 million on Israeli ships, raising the risk of further sanctions.