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The Latest Breaking News from IEA

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

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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

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.

The Independent UK

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.

International Business Times

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

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The Independent UK

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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

The Guardian - UK

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.

Euronews

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

Evening Standard

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 Independent 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 Guardian - UK

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 Times of India

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

The Guardian - UK

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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.

The Independent UK

Iran war latest: Oil prices soar again after two Iraqi tankers struck in suspected Iranian attack

Donald Trump has said that US forces have knocked out 28 Iranian mine-laying ships in the Strait of Hormuz

The Guardian - UK

Three merchant ships struck as tensions rise in Hormuz strait amid Iran war

Crew of Thai-registered bulk carrier forced to flee fire, as US says it has destroyed 16 Iranian mine-laying vessels

The Times of India

Fuel crisis: Major UAE oil refinery shut after drone attack; global energy body calls 'emergency meeting'

A major UAE oil refinery halted operations following a drone attack, intensifying fears of a global energy crisis. The International Energy Agency is convening an emergency meeting to assess supply risks and consider releasing strategic oil reserves. Escalating attacks on Gulf energy infrastructure are causing severe disruptions across various industries,…

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The Conversation

Who profits from war with Iran? Understanding that will be key to resolving the conflict

When US and Israeli forces launched airstrikes on Iran, the shock waves were felt far beyond the region. As the conflict escalates, understanding who benefits from this crisis might be as important as counting its costs.

Whats Hot

How the US–Iran War Is Impacting India’s Oil, LPG and LNG Supply: 10 Key Points

Oil, LPG and LNG form the backbone of India’s rapidly growing economy. However, the ongoing tensions in West Asia and the closure of the Strait of Hormuz, a key global maritime oil route, have created disruptions in energy supplies. The conflict involving the United States, Israel and Iran has intensified…

The Independent UK

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

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

The Guardian - UK

G7 ready to take ‘necessary measures’ over economic impact of Iran war

Finance ministers monitoring situation but stop short of agreeing to release emergency oil reserves

Axios

Trump's energy chief blames oil price spike on market fear

Gas is up 47 cents a gallon in one week.

The Guardian - UK

Oil price expected to surge after Iran strikes and strait of Hormuz closure

Markets around the world could tumble on Monday and motorists are likely to pay more at the pump

Euronews

US energy leader slams IEA's net zero agenda, suggests Washington could walk out

US Energy Secretary Chris Wright said the International Energy Agency should focus on energy security and abandon net zero ideas, but EU leaders have backed the Paris-based agency as a "trusted pillar" of the global energy community.

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