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The Independent UK

World

Matt Sedensky

World leaders eye oil reserves, but so far hold off on tapping them

Oil Donald Trump IEA Iran United States

Oil Prices - (Copyright 2026 The Associated Press. All rights reserved.)

A widening war in Iran has halted oil tankers, made targets of refineries and spooked investors worried about the cascading impact of spiking energy prices.

If it might seem like the ideal time to dip into the world’s emergency oil stockpiles, global leaders have so far responded with reluctance.

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