Oil crisis advice: Work from home

"The conflict has triggered the largest disruption to oil supply in the history of the global oil market," the IEA wrote in a statement.

According to the IEA, opening the Strait of Hormuz is crucial to alleviating concerns in the global energy market. It also says governments, businesses and even private individuals can take steps to mitigate the disruptions.

Working from home, if possible, and choosing public transportation instead of driving may be options for individuals to consider.

The IEA also provides advice to industry and on how national governments should approach the issue.