IEA Chief Issues Stark Warning on Oil Prices

Just as oil prices on the futures market slip again on hopes for a quick end to the war in the Middle East, the head of the International Energy Agency issued a warning: prices are going to go higher yet. “Prices are already high, but they are not reflecting the severity of the problem — I agree there is a disconnect,” Fatih Birol said at an event this week, as quoted by Bloomberg. “But I think soon we will see they will converge, which is an extremely sensitive issue for the global economy.” The war has so far cost…