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UAE

A foreign tanker carrying Iraqi fuel oil damaged after catching fire in Iraq's territorial waters, following unidentified attacks that targeted two foreign tankers, according to Iraqi port officials, near Basra, Iraq, March 12, 2026. REUTERS/Mohammed Aty
Mar 12, 2026

World faces largest-ever oil supply disruption on Middle East war, IEA says

The IEA reports the biggest oil supply disruption in history due to the Middle East war, with global supply dropping 8 million barrels per day in March 2024.

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