Riyadh, May 11 -- The CEO of Saudi Arabia's state-owned energy giant Saudi Aramco, Amin al-Nasser, today issued a stark warning, stating that the ongoing disruptions in shipping through the Strait of Hormuz caused by the US-Israel war with Iran have triggered some of the biggest and worst shocks to hit the global energy markets, further cautioning that this hit on the energy sector was only likely to worsen.
"The current energy supply shock is the largest the world has ever witnessed," al-Nasser told Saudi Arabia's state-run Al-Arabiya network.
The Aramco CEO said that the markets were already suffering from an "unprecedented supply loss of about a billion barrels of oil" due to the war, noting that "if the current disruptions continue at...