Washington, March 13 (SANA) The United States announced the release of 172 million barrels from its Strategic Petroleum Reserve on Monday, aiming to curb rising oil prices amid escalating tensions in the Middle East and disruptions to global energy supplies, Reuters reported.
The move is coordinated with the International Energy Agency (IEA), which plans to release about 400 million barrels from the strategic reserves of its member states to calm global oil markets and ease price pressures.
The region has experienced a military escalation since February 28, with ongoing U.S.-Israeli strikes on Iran and Iranian attacks using missiles and drones targeting critical facilities in several Arab and regional countries.
These developments have raised international concerns about the widening scope of the confrontation and potential threats to energy supplies and navigation through strategic maritime routes, including the Strait of Hormuz.
Oil prices have surged in recent days, with Brent crude exceeding $100 per barrel following the intensifying regional tensions.
Reuters also reported that Western governments are taking additional steps to stabilize the market, including issuing a temporary 30-day license allowing certain countries to purchase Russian oil stranded at sea, helping to relieve supply pressures.
K.A
