Lates News

After the International Energy Agency confirmed the release of 400 million barrels of oil from strategic reserves to offset supply losses caused by the closure of the Hormuz Strait, crude oil futures continued to rise. Analysts believe that the impact of this measure on oil prices will be limited in the event of a war with Iran leading to the almost complete closure of the strait for shipping. Birol, executive director of the International Energy Agency, announced the release of reserves, stating that the most important thing is to restore navigation in the strait.