IEA says 'unconditionally' re-opening Hormuz vital to end energy crisis

The head of the International Energy Agency said Tuesday that "unconditionally" opening the Strait of Hormuz to Gulf tanker traffic was essential to ending the shock from soaring oil and gas prices to economies worldwide.

"The single most important solution to this problem is the fully and unconditionally opening up of the state of Hormuz to shipping," IEA chief Fatih Birol told a press conference.

The deal between Iran and the United States to end the Middle East war calls for the strait to be opened, but Iranian officials have said tolls or "service fees" could be imposed for ships passing through the crucial passage for Gulf oil and gas.


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