Oil prices continue to soar despite the International Energy Agency's plans to release 400m barrels into the market.

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A decision on this issue is to be made on March 11

Oil prices were choppy on Wednesday morning as markets continue to watch developments in the U.S.-Iran war.

Decision expected on whether to use reserves amid supply shortages and market volatility caused by Iran war

The International Energy Agency has agreed to release the largest volume of emergency oil reserves in its history, in a bid to counter the effects on energy markets of the war in…

The International Energy Agency (IEA) has agreed to release 400 million barrels of emergency oil reserves, marking the largest volume in its history.

The IEA's 400-million-barrel emergency release, more than double its Ukraine response, comes as Iran cut Strait of Hormuz exports to less than 10%.

The release exceeds the 182 million barrels of oil that member countries released in 2022 when Russia invaded Ukraine.

The conflict in Iran has halted shipments through the Strait of Hormuz and pushed the price of oil and gas sharply higher.

Proposed release is larger than the 182 million barrels of oil that IEA members released after Russia invaded Ukraine.

The International Energy Agency announced it has agreed to take emergency action and release 400 million barrels of oil into the market.

Despite rare act of multilateralism, there is no guarantee the IEA’s release of 400m barrels from reserves will depress prices

The IEA said Wednesday that its 32 member countries would release 400 million barrels of oil from emergency reserves.

It comes as Iranian attacks on ships intensify in the crucial Strait of Hormuz waterway.

Oil prices continue to soar despite the International Energy Agency's plans to release 400m barrels into the market.

RIYADH: The historic decision by the International Energy Agency to release 400 million barrels of oil from strategic reserve stockpiles, the largest such move in its history, is…

Oil prices have surged more than 17% since the International Energy Agency announced the largest release of crude stockpiles in its 50-year history.