Vast release of emergency crude reserves fails to quell mounting fears about supply crunch, rattling markets
Middle East crisis – live updates
Oil markets are now facing the “largest supply disruption …
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2026 › March › 12
IEA
4 months ago
Iran war causing ‘largest disruption in history’ to oil supplies, says IEA ⊖⊖
Global crude output will fall to lowest level in four years, energy agency warns in report
Plans for record emergency oil release signal Middle East war could drag on for months ⊖⊖
The degree to which the IEA acted is being interpreted that the conflict could continue for many weeks, said analysts.
CNBC Daily Open: Oil and trade tariff uncertainty rattle global markets ○
The IEA agreed Wednesday to release a record 400 million barrels of oil, and the U.S. would tap 172 million barrels from its Strategic Petroleum Reserve.
Oil surges over 7% despite record reserve release announcement as markets doubt supply relief ⊖
The IEA said Wednesday that its 32 member countries would release 400 million barrels of oil from emergency reserves.
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