IEA and US Release Emergency Oil Reserves Amid West Asia Supply Disruptions

The International Energy Agency (IEA) has announced the largest-ever release of 400 million barrels of emergency oil reserves to address supply disruptions caused by the West Asia conflict and Strait of Hormuz closure. The US has begun releasing 86 million barrels from its Strategic Petroleum Reserve as part of this effort. However, S&P Global Energy warns that this release may only partially alleviate market imbalances, especially in Asia, and that normal supply routes must reopen for full recovery.