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Mideast war threatens energy crisis worse than 1970s oil shocks

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A fireball rises from the site of an Israeli airstrike that targeted the Qasmiyeh bridge near Tyre district, after Israel said the bridge was being used by Hezbollah

The world faces an energy crisis worse than both 1970s oil shocks combined if the Middle East war drags on, the head of the International Energy Agency warned Monday, as Israel launched fresh strikes on Tehran and threatened weeks more fighting.

As the war grinds into its fourth week, US President Donald Trump threatened to "obliterate" Iranian power plants if Iran failed to reopen the Strait of Hormuz within 48 hours -- setting an effective deadline of 23:44 GMT Monday.

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Originally published on doc.afp.com, part of the BLOX Digital Content Exchange.

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