2026-10-08 · Al Jazeera
🔮 Oil prices initially climbed on Wednesday following a warning that Iran appeared to be stepping up attacks on tankers in the Strait of Hormuz, before closing lower after International Energy Agency (IEA) member states said they were ready to release more strategic reserves.
IEA member countries said they stand ready to release additional oil from their reserves if necessary and will prioritise diesel due to tight supplies of the fuel, the head of the organisation said on Wednesday. assertive