US EditionIEA Releases Emergency Oil Stocks to Asia Immediately and to West by March End
The International Energy Agency will release a record 400 million barrels of crude oil to Asia immediately to offset historic supply losses from Middle East conflict, with 72% crude content.
- The International Energy Agency announced a record 400-million-barrel reserve release on Sunday, with additional volumes flowing to the market beginning March 16 to counter supply disruptions.
- War in the Middle East has effectively blocked the vital Strait of Hormuz, causing the largest supply disruption in history and shutting in millions of barrels daily.
- Crude futures closed above $100 a barrel on Friday, while jet fuel prices in Europe climbed above $220 and regional diesel futures pushed past $150.
49 Articles
49 Articles
Emergency stockpile oil coming soon to Iran-wracked markets: IEA
More than 400 million barrels of oil from International Energy Agency emergency reserves will begin flowing soon, the agency said in its most detailed account of the rollout of the plan to combat a spike in crude prices since the start of the US-Israeli war on Iran. Stocks from Asia and Oceania countries will be available immediately and stocks from Europe and the Americas will be available at the end of March, the agency said on Sunday, four da…
The International Energy Agency (IEA) announced this Sunday that it will immediately release stocks from Asia and Oceania to market 400 million barrels of oil. Volumes from America and Europe will begin to arrive from the end of March. Member countries have already presented their plans to implement the exceptional measure, adopted due to the intense impact on the oil market of the war in Iran and, in particular, the blockade of the Strait of Or…
Asia and Oceania, the two most affected continents, will be the first to receive the barrels, and will be released in Europe and America by the end of March. The price of crude is skyrocketing by 40% in the two weeks of war conflict Read
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