The head of the International Energy Agency has warned that April could be more difficult for global energy markets than March as the Middle East conflict continues to disrupt supplies. While shipments in March were largely loaded before the crisis escalated, no new cargoes have been loaded in April, raising concerns about prolonged disruptions. He cautioned that the longer the conflict affects infrastructure and transport routes, the more severe the consequences for global energy security.

More than a third of over 80 energy facilities impacted in the region have been severely damaged, according to the agency. The International Monetary Fund chief stressed the need to assess the full scale of infrastructure damage, while the World Bank said it is preparing for multiple scenarios depending on the duration and intensity of the war. The International Monetary Fund has made up to $50 billion available in financing, and the World Bank has pledged up to $25 billion, with the possibility of increasing that amount if hostilities persist.

The conflict escalated after United States and Israeli strikes on Iran in late February prompted Tehran to restrict traffic through the Strait of Hormuz, a vital route for global energy shipments. Although a temporary truce was announced, failed negotiations led the United States to impose a naval blockade, prompting renewed calls from international leaders for freedom of navigation and a return to ceasefire terms.