The decision to coordinate the release of oil from strategic reserves has had a “strong impact” on energy markets, said Fatih Birol, executive director of the International Energy Agency, quoted by Reuters, BTA reported.
He pointed out at a press conference in Istanbul that global energy markets are at a “critical turning point” amid the US-Iran war.
According to him, the closure of the Strait of Hormuz has prompted the agency to recommend a coordinated release of oil reserves.
Yesterday, the IEA, which brings together leading oil-consuming countries, agreed to release a total of 400 million barrels from global strategic reserves. The measure is aimed at mitigating one of the worst oil shocks since since the 1970s and to stabilize energy markets. However, oil prices are rising both yesterday and today.
At the same time, Iran has stepped up its threats, saying "Expect $200 per barrel", notes the Portuguese newspaper "Publico".
The Strait of Hormuz remained a central point in the war between the United States and Israel and Iran yesterday, with the United States accusing the Islamic Republic of mining it. Tehran is also threatening to attack banking institutions in the region linked to the United States and Israel, emphasizes "Publico".
The war is already being waged in the Strait of Hormuz, which is the mullahs' last card against Trump, writes the French newspaper "Parisien".
"The policy of the scorched sea" (analogy with "scorched earth", military term for a retreat in which everything needed by the advancing army is destroyed - ed.) threatens to "destroy the world economy" and plunge the world into uncertainty, the newspaper notes.
The International Energy Agency announced yesterday that it would release oil reserves amounting to 400 million barrels in an attempt to control the surge in energy prices caused by the US and Israel's war against Iran, the American newspaper "Washington Post" notes at the same time.