IEA Emergency Oil Releases Deplete Global Strategic Reserves

The IEA, with G7 backing, announced a further 100 million barrel release from strategic reserves, part of a 400 million barrel plan responding to the Hormuz squeeze. Analysts warn that reserve levels, particularly the U.S. SPR, are critically low, undermining the world's ability to respond to future supply disruptions. This depletion raises the risk of a sharper price spike if the Hormuz disruption persists or escalates.