US Reiterates Oil Reserve Release Spurred by Iran War Will Be an Exchange


Countries around the world are planning releases from strategic oil reserves as the war in the Middle East chokes supply and sends fuel prices soaring. The Strait of Hormuz, a vital waterway for crude tankers, has been all but shut since the start of the conflict. Last week, The International Energy Agency agreed last week to discharge 400 million barrels from emergency oil reserves, its largest-ever release. The US plan is part of that effort.



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