International Energy Agency Executive Director Fatih Birol: The disruption of the Strait of Hormuz has already impacted the economy and consumers.

International Energy Agency (IEA) Executive Director Fatih Birol stated that the disruption in the Strait of Hormuz has already impacted the economy and consumers. The IEA's swift action has had a "calming" effect on the market. Despite the massive release of reserves, there are still ample stocks available, allowing for further increases if needed. He added that preparations must be made if the conflict continues for an extended period. (Jinshi)