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Oil markets nearing ‘red zone’ as Iran crisis continues, warns IEA chief

Surging demand, low reserves and reduced Middle East exports predicted to cause global crunch by Aug...

BUSINESS NEWS May 21, 2026

Oil markets nearing ‘red zone’ as Iran crisis continues, warns IEA chief

Surging demand, low reserves and reduced Middle East exports predicted to cause global crunch by August.

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Surging demand, low reserves and reduced Middle East exports predicted to cause global crunch by August.

Author: The Guardian

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