The International Energy Agency (IEA) has approved the largest emergency oil release in its history, with 32 member nations unanimously backing the release of 400 million barrels from strategic reserves to stabilise global supply following disruption of supply through the Strait of Hormuz.
Executive director Fatih Birol described current market conditions as unprecedented, saying the scale of disruption required an emergency response of unmatched size. The oil will be released according to each country’s national circumstances, drawing from emergency reserves held across member states.
The agency said this is only the sixth coordinated stock release in its history, following previous interventions during major global supply crises, and noted that member countries collectively hold more than 1.2 billion barrels in emergency stockpiles, alongside hundreds of millions more in mandated industry reserves.
More bull from western mainstream media which cannot understand cause and effect.
This emergency oil release will only temporarily stabilise the markets which still believe the American lies that this will just be a short war.
Iran can instead make this situation last for years because it operates to Iran’s own economic benefit. Iran is now exporting more oil through the Strait of Hormuz than it did before https://news-pravda.com/world/2026/03/11/2147321.html
OK, NZ Uni-Party takers;
WHEN ARE YOU GOING TO RELEASE EMERGENCY FUNDING TO REBUILD & REFURBISH THE MARSDEN POINT REFINERY?????
WHEN ARE YOU GOING TO REVOKE THE ‘NO DRILLINGFOR GAS & OIL’ IN NEW ZEALAND TERRITORIAL WATERS AND ON LAND???
WHY ARE YOU NOT PLANNING TO TAKE NEW ZEALAND INTO ENERGY INDEPENDENCE BY DOING THE ABOVE SO THAT WE DON’T HAVE TO RELY ON OUTSIDE SOURCES FOR OIL???
WHAT WILL YOU BOFFINS DO IF MENTALLY-ILL TRUMP DOES THE FOLLOWING?
https://www.infowars.com/posts/watch-nick-fuentes-has-a-hunch-trump-might-nuke-iran-to-reset-world-order
Nuremberg 1946 makes it perfectly legal for the US military to disobey illegal orders.
So it will be a whole heap of dumb yank war criminals complicit with idiot Trump if they nuke Iran. I doubt that so many yanks could be that dumb.
The west simply needs to stop supporting genocide in the Middle East.
Oil prices will start dropping when more countries reduce ties with Israel https://en.ypagency.net/386924
It will lead to peace in Gaza faster than that American idiot’s Board of Peace https://en.ypagency.net/386920
Oil Surges 6% as Massive US Reserve Release Fails to Cool Market https://www.tradingkey.com/news/commodities/261672234-iran-israel-crude-brent-oil-wti-price-trump-tradingkey
Oil is abiotic, never was a shortage, as stated in the Herald online this morning, “it’s not a shortage it’s a transport problem” by some nong of a minister somewhere in Wellington… so all the bs about shortages is just a matter of willingness to supply but being members of the WEF, the UN and the WHO, NZ is now going to be de-carbonised under the guise of war… hahahaaaa.. these politicians in this country will do NOTHING to change this…it plays into the hands of their real masters…
NZ has heaps of oil off the Taranaki coast but we don’t use it for ourselves, we instead export it to Australia and it’s our 4th biggest export earner in its crude unrefined form. Imagine how much more it’d be worth with added value after we refine it ourselves. But we’ve instead been lied to by the media and successive govts who have claimed its unsuitable for our needs. Suitably configuring the Marsden Point oil refinery to refine our own oil is a basic chemistry problem but our politicians and media do not want us to be self-sufficient; they instead want us to be poor