The International Energy Agency (IEA) says it can release more emergency oil reserves, with over 1.4 billion barrels still available after a historic 400 million barrel release.
The Iran-related conflict has caused the largest oil supply disruption in history, surpassing the 1973 oil crisis and affecting both oil and liquefied natural gas markets.
The Strait of Hormuz, a key route for about 20% of global oil, remains disrupted, making its reopening critical to stabilizing supply.
Oil prices have been highly volatile, and analysts warn the reserve release is only a short-term fix, potentially covering just over 25 days of disrupted supply.
Efforts to secure the shipping route are uncertain, as Donald Trump’s calls for allied support have received mixed responses, while the global energy outlook depends on how the conflict evolves.
The International Energy Agency (IEA) said it stands ready to release additional emergency oil reserves if needed, as the ongoing conflict involving Iran, the United States and Israel continues to strain global energy markets.
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