Key Takeaways: The IEA said renewed Iran war disruptions widened the current-quarter global oil supply deficit to 1.8 million barrels a day, more than double earlier forecasts. Global oil markets are undergoing a more severe supply squeeze than expected following renewed escalation in the Iran war, even as demand takes a deeper hit from higher prices, the International Energy Agency said. Stockpiles are tightening again even as high fuel prices prompt the agency to deepen estimates for a decline in global oil demand this year, by almost 50% to 1.6 million barrels a day.