US-Israel, Iran conflict: IEA says over 400 million barrels of emergency oil to start flowing soon amid tensions

The IEA is releasing 400 million barrels of emergency oil to global markets as the US-Israel conflict with Iran disrupts supplies. Member countries in the Americas, Asia Oceania, and Europe will provide government and industry stocks. The move aims to calm markets after crude hit $120/barrel.

source https://www.livemint.com/news/world/usisrael-iran-conflict-iea-says-over-400-million-barrels-of-emergency-oil-to-start-flowing-soon-amid-tensions-11773594308977.html