Several countries are preparing to release oil from strategic reserves as tensions in the Middle East raise concerns about potential disruptions to global energy supplies.
The International Energy Agency (IEA) said member countries could release up to 400 million barrels of oil from emergency reserves to help stabilize markets if shipping through key routes is disrupted.
The move comes amid fears that the conflict involving Iran could affect traffic through the Strait of Hormuz, a critical global energy chokepoint. Roughly 20 percent of the world’s oil supply passes through the narrow waterway connecting the Persian Gulf to the Arabian Sea.
Some governments have already begun taking action. Italy has announced plans to release around 9.9 million barrels from its strategic reserves, while Australia and other countries are reviewing emergency stockpiles to ensure fuel supplies remain stable if the conflict escalates.
Energy analysts say coordinated reserve releases could help prevent major price spikes if exports from the region are disrupted. However, experts warn that prolonged instability in the Middle East could still place significant pressure on global energy markets.
