IEA Executive Director Fatih Birol said that while March deliveries largely reflected cargoes loaded before the crisis escalated, the situation has shifted significantly. “During the month of April, nothing has been loaded,” he told reporters following meetings at the International Monetary Fund, adding that prolonged disruption would intensify market pressures.

Birol said the agency is tracking damage to energy infrastructure across the region, noting that more than a third of over 80 affected facilities have sustained severe damage. He described the situation as a major energy security challenge with global implications, warning that no country would be insulated from the fallout.

IMF Managing Director Kristalina Georgieva said there is an urgent need to assess the scale of economic impact stemming from infrastructure losses tied to the conflict.World Bank President Ajay Banga said the institution is preparing for multiple scenarios depending on the duration and intensity of hostilities, including expanded financial support.

The IMF has indicated it can make up to $50 billion available, while the World Bank has outlined potential financing of up to $25 billion, with the possibility of increasing total support to $60 billion over six months if conditions worsen.

The conflict, triggered by U.S.-Israeli strikes on Iran beginning February 28, has disrupted flows through the Strait of Hormuz, a critical artery for global oil shipments. Iran’s actions to impede maritime traffic, followed by a U.S. naval blockade, have heightened concerns over supply constraints and price volatility.

Although a two-week ceasefire was agreed last week to enable negotiations, talks in Islamabad failed to produce a breakthrough, raising uncertainty over whether the truce will hold.

International mediators, including Pakistan and Qatar, have urged both sides to maintain the ceasefire, while UN Secretary-General Antonio Guterres called for the restoration of freedom of navigation in the region.