IEA weighs fresh oil stock releases as Iran conflict tightens markets
The IEA says it is consulting with governments in Asia and Europe on releasing more oil from strategic stockpiles if necessary due to the Iran war, following a record 400 million-barrel drawdown; there is no fixed price trigger, and any additional release would aim to ease market pain rather than solve the crisis. Birol, on a world tour starting in Canberra, warns the Middle East crisis is severe, emphasizes the Strait of Hormuz as central to the energy squeeze, and notes possible demand-saving measures like lower speeds and work-from-home; Australia reports solid diesel stocks at about 30 days.