US-Iran escalation threatens oil supply recovery, warns IEA

The return of fighting between the United States and Iran threatens to extend the global energy crisis, the International Energy Agency has warned. The risk that the resumption of hostilities could scupper hopes of a swift recovery in energy markets was flagged by the United Nations agency on Friday. The warning came as a lull in action from US and Iranian forces appeared to pave the way for efforts to revive diplomacy, although sources cautioned that the US military remains ready to resume attacks.