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Economy
IEA approves historic 400m barrel oil release amid Iran crisis
The 32-member International Energy Agency has unanimously agreed to release 400 million oil barrels from its global strategic reserves in an attempt to prevent supply disruptions and ease market fears caused by Iran war shortages.
Markets
Oil steadies as IEA and G7 move to release record reserves
Oil is trading flat in expectation that the International Energy Agency could trigger the largest-ever release of oil reserves, exceeding the 182 million barrels in 2022 after Russia’s invasion of Ukraine. The G7 will also meet on Wednesday to discuss using the reserves.