ISTANBUL, April 21. /TASS/. One of the consequences of the Middle East conflict and the crisis around the Strait of Hormuz could be a reshaping of the global energy map, Fatih Birol, head of the International Energy Agency (IEA), said.

"The Strait of Hormuz has lost its former reliability. The current crisis could lead to a reshaping of the global energy map. The era when the global economy was inextricably linked to a single strait will soon be a thing of the past. Even if everything returns to normal tomorrow, high prices and volatility in the markets will have long-term consequences," business newspaper Dunya quoted him as saying.

In his view, the escalation of tensions in the Middle East is leading to structural disruptions in global energy markets that go beyond temporary fluctuations. He recalled that in March the IEA announced a decision to release 400 mln barrels of oil from strategic reserves to stabilize the market and offset supply disruptions caused by tensions in the Middle East. "This is a kind of insurance policy for the entire world. If we face more complex situations, we will be able to continue using these reserves," Birol said.

According to the IEA chief, it could take at least two years to stabilize energy markets.

On February 28, the United States and Israel launched a war against Iran. Major Iranian cities, including Tehran, came under strikes, while vessels passing through the Strait of Hormuz were also targeted. On April 7, US authorities announced a two-week mutual ceasefire with Iran. Following US-Iran talks on April 11 in Islamabad, the US Central Command stated that on April 13 it began a naval blockade of Iran, preventing the movement of all vessels heading to the country’s ports as well as those departing from its shores.