The war in the Middle East could cause the “worst industrial crisis in living memory”, the head of the International Chamber of Commerce warns, according to AFP.

“The head of the International Energy Agency has warned that the world is facing an energy crisis more severe than the oil shocks of the 1970s,” John Denton has said.

“From a business perspective, we believe this could yet become the worst industrial crisis in living memory,” he added, speaking on the eve of the meeting of World Trade Organisation ministers in Yaounde.