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

The current oil and gas crisis triggered by the blockade of the Strait of Hormuz is "more serious than the ones in 1973, 1979 and 2002 together", Fatih Birol, the head of the International Energy Agency (IEA), told Le Figaro newspaper. "The world has never experienced a disruption to energy supply…