, March 20 -- The International Energy Agency (IEA) has outlined 10 immediate ways households, businesses and governments can save money as oil prices surge above $100 per barrel following what it calls the largest supply disruption in global oil market history.

The crisis stems from the US-Israel war on Iran, which has severely reduced shipping through the Strait of Hormuz - a key artery that normally carries around 20 per cent of global oil consumption, or roughly 20 million barrels per day.

The loss of these flows has tightened markets sharply, pushing up not just crude prices but also refined fuels such as diesel, jet fuel and liquefied petroleum gas (LPG), reports GulfNews.

While countries have already responded with supply-side m...