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The International Energy Agency agrees to discharge 400 million barrels of oil from its members’ strategic

2026 Strait of Hormuz crisis — The International Energy Agency agrees to discharge 400 million barrels of oil from its members’ strategic reserves, its largest-ever release, to counter soaring global energy pric

Published March 11, 2026· Updated October 28, 2026·1 min read

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Context: 2026 Strait of Hormuz crisis.

The International Energy Agency agrees to discharge 400 million barrels of oil from its members’ strategic reserves, its largest-ever release, to counter soaring global energy prices due to the war. Despite the measure, the price of the crude barrel rises above US$100 again in international markets. [https://www.aljazeera.com/news/2026/3/11/iea-proposes-release-of-400m-barrels-of-oil-from-strategic-reserves (Al Jazeera)] [https://www.forbes.com/sites/siladityaray/2026/03/11/crude-hits-100-per-barrel-as-strategic-oil-reserve-release-fails-to-calm-iran-war-fears/ ( Forbes )]

Event summary via Wikipedia Current Events (2026-03-11).