IEA: Energy Crisis Threatens Economic Recovery

The energy crisis that has pushed the prices of fossil fuels to highs not seen in years is threatening the global recovery from the coronavirus pandemic, the International Energy Agency has warned. "Provisional August data already indicates that there is some unseasonably high demand for fuel oil, crude and middle distillates for power plants across a number of countries, including China, Japan and Pakistan in Asia, Germany and France in Europe and Brazil," the IEA said, as quoted by Reuters. The agency explained that this higher demand was…