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Can the IEA Put a Lid on the Price per Barrel by Releasing Oil Stockpiles?

The International Energy Agency announced a historic release of 400 million barrels of emergency crude, the largest drawdown in its history and about one‑third of members’ total reserves. The move aims to temper soaring oil prices triggered by the U.S.–Israel conflict that has effectively closed the Strait of Hormuz. Historically, the IEA has intervened only four times since 1974, making this action a clear signal of market stress. The release adds to coordinated G7 efforts to shield consumers from volatile fuel costs.