Anonymous23 days ago
The International Energy Agency has agreed to release a record 400 million barrels from member nations' emergency stockpiles — more than double the 2022 Ukraine-crisis release — as the US-Israel war with Iran has effectively shut down the Strait of Hormuz and removed roughly a fifth of global oil supply. With WTI crude surging from $67 to nearly $95 per barrel in under two weeks, gasoline prices spiking above $3.50 nationally, and economists warning of a potential recession, the coordinated action represents the most aggressive peacetime intervention in energy markets ever attempted by Western governments.