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The Latest Breaking News from IEA

Nations will release an extra 400 million barrels of oil to the market. All we need to do now is not panic at the pump

Despite being one of the world’s top exporters of fossil fuels (coal and gas), Australia has little left of its own oil. Neither does New Zealand.

The Conversation

Fuel supply boosted as oil price threatens record highs

The government has temporarily lowered Australia's fuel quality standards to boost supplies as the war in the Middle East disrupts global markets.

AAP

Australian Petrol Prices Set To Skyrocket After Strikes In Strait Of Hormuz

Australians are being warned to brace for higher petrol prices as attacks on ships in the Strait of Hormuz choke global oil supplies.

Pedestrian.tv

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IEA’s ‘unprecedented’ oil release was supposed to fix everything, yet the market had a chilling response

The International Energy Agency (IEA) announced this week that its member countries unanimously agreed to release a massive 400 million barrels of oil from their strategic reserves, an unprecedented move aimed at stabilizing soaring prices, but the market’s response was, frankly, a bit chilling. Despite this huge injection of potential…

The Mary Sue

Nasdaq Rises Amid Middle East Uncertainty: Stock Market Today

Governments and global organizations are responding to the threat of a potential energy crisis stemming from the war in the Middle East.

Kiplinger

Iran escalates attacks on infrastructure and transport networks across the Gulf

Iranian officials warn of ‘war of attrition’ and global economic chaos as energy supplies are throttled

The Guardian - UK

Crude Prices Rally Despite IEA Stockpile Release

April WTI crude oil (CLJ26 ) is up +4.62 (+5.54%), and April RBOB gasoline (RBJ26 ) is up +0.14379 (+5.60%). April WTI crude oil on Monday spiked up to a 3.75-year nearest-futures high of $119.48 but has since fallen back to the $87-per-barrel area. Crude oil prices spiked higher to...

Barchart

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FTSE 100 falls as Iran war lifts inflation fears

The FTSE 100 index closed down 58.47 points, 0.6%, at 10,353.77.

Evening Standard

These are shaky times for oil markets. An expert explains what a prolonged war will mean for prices

The US-Israel strikes on Iran have launched one of the most dramatic conflicts in the Middle East in living memory. Aside from military targets, Iranian forces have attacked commercial shipping and infrastructure in the region. The objective is simple: to disrupt oil exports and weaken its opponents’ economies.

The Conversation

Stocks Pressured by Higher Oil Prices, But Positive Oracle AI News Helps Tech Stocks

The S&P 500 Index ($SPX ) (SPY ) is down -0.30%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is down -0.88%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -0.11%. March E-mini S&P futures (ESH26 ) are down -0.42%, and March E-mini Nasdaq futures (NQH26...

Barchart

The fog of war is coming from inside the White House—and it cost oil markets $84 million in ten minutes

Meanwhile, the market shrugs at news of a record emergency release of oil.

Fortune

France backs emergency release of oil reserves as supply fears grow

France, which holds the G7 presidency, said Wednesday that major economies were ready to act to stabilise oil markets as the US-Israeli war with Iran enters its second week and disrupts supply.

Radio France Internationale

IEA announces historic oil reserve release amid Iran war

It would be the largest joint release in the International Energy Agency's history.

Axios

Largest-ever emergency oil release approved to address Iran war crisis and global supply fears

It’s a larger stock than the 182.7 million barrels that were released in 2022 in response to Russia’s full-scale invasion of Ukraine

The Independent UK

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The Independent UK

International Energy Agency to release record oil reserves to calm markets

The conflict in Iran has halted shipments through the Strait of Hormuz and pushed the price of oil and gas sharply higher.

International Business Times

Iran War Sparks Largest Ever Oil Reserve Release

The International Energy Agency unanimously agreed to release 400 million barrels of oil from emergency reserves in response to the Iran war.

The Independent UK

400 million barrels of emergency oil reserves to be released to calm surging prices

IN FULL

The Guardian - UK

Will releasing millions of barrels of oil stockpiles really bring down fuel costs?

Despite rare act of multilateralism, there is no guarantee the IEA’s release of 400m barrels from reserves will depress prices

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Euronews

IEA approves largest-ever oil reserve release of 400m barrels amid Iran crisis

The 32-member International Energy Agency has unanimously agreed to release 400 million oil barrels from its global strategic reserves in an attempt to prevent supply disruptions and ease market fears caused by Iran war shortages.

Evening Standard

Oil wars: West releases record 400 million barrels as Iran hits cargo ships in Strait of Hormuz

Meanwhile Tehran threatens to target banks and financial centres in Middle East as Chancellor Rachel Reeves issues warning on inflation and interest rates

The Independent UK

Germany, Austria say they'll release oil from reserves in response to 400 million barrel request

Germany and Austria say they are releasing parts of their oil reserves following an International Energy Agency request for its members to release 400 million barrels to help temper energy price spikes due to the Iran war

The Guardian - UK

IEA orders largest ever release of stockpiled oil to reduce crude price

Members agree unanimously to release about 400m barrels amid market volatility caused by Iran war

The Times of India

Why Japan keeps the world’s third-largest strategic Oil reserve

As global energy markets face unexpected imbalance due to the Middle East rising tensions, Japan prepares to release oil to maintain surging costs. Holding the third-largest strategic reserve globally, as stated by the International Energy Agency (IEA), Japan's massive 254-day buffer serves as a critical shield against supply shocks. While…

The Guardian - UK

World’s energy watchdog orders emergency release of 400m barrels of oil to curb prices – as it happened

IEA’s oil release is largest in its history; UK government considering support schemes for households and businesses hit by surge in energy prices

Euronews

Oil steadies as IEA and G7 move to release record reserves

Oil is trading flat in expectation that the International Energy Agency could trigger the largest-ever release of oil reserves, exceeding the 182 million barrels in 2022 after Russia’s invasion of Ukraine. The G7 will also meet on Wednesday to discuss using the reserves.

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