Clean power is 'hugely important', says Michael Shanks, as the IEA releases 400 million barrels of emergency oil reserves in an unprecedented move

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