Closure of the Strait of Hormuz has choked off some 20% of global oil supply, forcing Gulf producers to cut output by roughly 10 million barrels/day and shutting some refining capacity. Physical crude ...

Shortages have a ‘buffering’ effect, with time lags, so the war’s price shock may last even after Iran’s choke eases. (Reuters / Dado Ruvic / Illustration) The 32 member countries of the International ...

Oil hit $100 a barrel on Thursday after Iran stepped up attacks on tankers. The latest tensions have overshadowed the IEA's historic release of oil reserves. Stocks dropped on Thursday as oil's latest ...

Tony Wood does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their ...

The International Energy Agency has proposed releasing 400 million barrels of oil reserves to bring down crude prices that have soared during the U.S.-Israel war with Iran, officials familiar with the ...

The International Energy Agency said its member countries would launch the largest reserves distribution in history in a bid to bring down crude prices that have soared during the war with Iran. The ...

After deliberating and assessing the global oil market situation in the face of Middle Eastern conflicts stemming from the United States' attack on Iran, 32 different developed nations agreed to make ...

The International Energy Agency proposed releasing 400 million barrels of oil from strategic reserves in an effort to lower prices that surged after the outbreak of war between the United States and ...

Twenty-four hours after the International Energy Agency (IEA) announced a 400 million-barrel release from the Group of Seven nations' Strategic Petroleum Reserve, oil prices surged into the mid-$90s ...

The Middle East war is creating the biggest supply disruption in the history of the oil market as flows of about 20 million barrels per day of crude and products through the Strait of Hormuz have ...

Reserves or no reserves, the outlook remains bleak as long as a major oil and gas trade route remains virtually closed. By Aaron Krolik Reporting from Seoul Reality is starting to set in for the world ...