The International Energy Agency has approved the release of 400 million barrels of oil from strategic reserves to stabilize global energy markets amid rising prices caused by the war involving the US, Israel, and Iran. The emergency action aims to ease supply disruptions after tensions around the Strait of Hormuz threatened nearly 20% of global oil shipments, while the Group of Seven energy ministers coordinate efforts to prevent a wider global energy crisis.
IEA Approves Release of 400 Million Barrels of Oil to Stabilize Global Energy Markets
