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Euronews
Euronews
Quirino Mealha

Iran strikes neutralise record IEA reserves release as oil tops $100

IEA Oil Iran ING Warren Patterson Emmanuel Macron Euronews Oman G7 Oxford Economics

Brent futures rose sharply on Thursday, spiking above $100 before easing slightly but remaining higher than levels seen earlier in the week as markets stay incredibly volatile.

This comes despite an unprecedented decision by the 32-member International Energy Agency (IEA) on Wednesday to release a record 400 million barrels to calm markets, more than double the volume released after Russia's 2022 invasion of Ukraine.

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