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IEA warns Europe of costly winter as war on Iran disrupts gas supplies

The IEA chief warns that Europe faces a costly winter, with gas stocks well below normal and prices likely to rise as the war on Iran disrupts global supplies.

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A sign affixed to a petrol and diesel fuel pump reads "This pump is pre-pay only", at a BP petrol station in Cranbrook, south east England on October 13, 2026. (Photo by AFP)

The head of the International Energy Agency (IEA) has warned that Europe faces a difficult winter, with fuel supplies disrupted by the ongoing US-Israeli war on Iran.

Fatih Birol, the agency's executive director, said the war had affected every country and every market, driving up energy costs and disrupting supply chains.

He warned the European market is particularly vulnerable to these disruptions and the increased demand for liquefied natural gas (LNG) in the coming winter months will likely result in rising energy costs on the continent.

Birol said European gas stocks had entered the winter "much lower than historical averages,"  Al Jazeera reported.

"Normally before the winter, European countries have a lot of gas stocks, but the gas stocks we have while we are entering this winter are much lower than historical averages," he said.

A harsh winter, he added, could push prices higher still. "I think if we have a harsh winter, we may see higher prices of natural gas in Europe."

He warned that the pressure would not ease soon. "Life will not be easy for Europe this year and also next year," he said.

Birol also noted that Europe must compete for supplies with Asian economies including India and China.

Saudi Aramco chief executive Amin Nasser has separately described the impact of the wars against Iran and Yemen on global energy markets as "unprecedented."

A significant portion of the oil and gas produced in West Asia reaches world markets through the Persian Gulf and the Strait of Hormuz, which Iran's armed forces closed after the US and Israel launched their military campaign against Iran on February 28.