Global Oil Market Crisis Declared
2 UPDATES · 3 DAYS · 20 MAR 2026 — 22 MAR 2026
Latest · 22 Mar 2026
The International Energy Agency chief declared a global oil market crisis worse than the 1970s oil crises and the Ukraine war combined, resulting in significant oil supply losses.
What this timeline covers
This event covers the UK cabinet ministers' initiation of contingency planning in response to economic fears stemming from the escalating conflict between the US (under Donald Trump) and Iran, including any subsequent reactions, analyses, and follow-ups. It excludes other actions by UK ministers, Labour MPs, and the International Energy Agency unless they are directly related to the specific contingency planning and economic responses triggered by the potential Iran-US conflict.
Story concluded