Germany will release nearly 20 million barrels of oil reserves.

German Federal Minister of Economics and Energy, Katerina Reiche, stated on the 11th that due to the military strikes by the United States and Israel on Iran, global energy prices have soared. Germany will release 19.51 million barrels of strategic oil reserves to alleviate the pressure of rising oil prices. Reiche said at a press conference that Germany will follow the recommendation of the International Energy Agency to release oil reserves, sending a clear signal to the market to suppress high-risk premiums and speculative profits. "If concerns about supply shortages in the market weaken, oil prices will fall." The German government will also implement restrictions on the way gas stations adjust prices, allowing fuel prices to only be raised once a day, but not restricted for decreases. Reiche stated that past energy crises have shown that oil prices rise rapidly but fall slowly, so it is necessary to control market fluctuations by limiting the frequency of price increases. Germany has used strategic oil reserves three times so far, during the Gulf War in the 1990s, after Hurricane Katrina hit the United States in 2005, and during the interruption of oil exports due to the Libyan war in 2011.