Oil prices rise as energy boss warns crisis is worse than 1973, 1979 and 2002 combined

NewsWorldMiddle EastOil prices rise as energy boss warns crisis is worse than 1973, 1979 and 2002 combinedBrent ​crude ⁠futures rose 1% to $111.53 a barrel having risen over 50% since the war startedInti Landauro Tuesday 07 April 2026 08:43 BSTBookmarkCommentsGo to commentsBookmark popoverRemoved from bookmarksClose popover{"translations":{"comments":"Go to comments","share":"Share","copyLink":"Copy link","bookmark":"Bookmark","removeBookmark":"Remove bookmark"},"showComments":true,"showBookmark":true,"articleId":"b2952796","articleMeta":{"url":"https://www.independent.co.uk/news/world/middle-east/oil-prices-today-strait-hormuz-b2952796.html","title":"Oil prices rise as IEA boss warns crisis is worse than 1973, 1979 and 2002 combined"}}open image in gallery{"id":"trigger-autogallery-6940","index":0}A cargo ship in the Gulf, near the Strait of Hormuz, as seen from northern Ras al-Khaimah (REUTERS)On The Ground newsletter: Get a weekly dispatch from our international correspondentsGet a weekly dispatch from our international correspondentsGet a weekly international news dispatchEmail*SIGN UPI would like to be emailed about offers, events and updates from The Independent. Read our Privacy notice{"className":"sc-1ge0fwe-0","newsletterData":{"regSourceNewsletter":"IND_On_The_Ground_Newsletter","regTitle":"On The Ground","subscriptionGroup":"on_the_ground","subscriptionGroupId":"14806361-6435-4d19-b06e-05326605fb01","pathPrefix":["/news/world/europe","/news/world/middle-east","/news/world/australasia","/news/world/africa","/asia"],"associatedAuthors":["Bel Trew","Sam Kiley"],"title":"On The Ground newsletter: Get a weekly dispatch from our international correspondents","mobileTitle":"Get a weekly international news dispatch","lengthenedMobileTitle":"Get a weekly dispatch from our international correspondents","imageSrc":"https://static.independent.co.uk/static-assets/images/newsletters/onTheGround1_1.png","newsletterKey":"receiveOnTheGround","regSourceSection":"Middle Eas...