Global Powers Release 400 Million Barrels of Oil Amid Middle East Tensions
March 12, 2026 –
In response to rising energy prices and ongoing conflict between the United States–Israel alliance and Iran, global powers have agreed to release 400 million barrels of oil from strategic reserves.
The U.S. will contribute 172 million barrels, while other nations including Japan, Germany, France, and South Korea will also provide supplies. Oil prices remain volatile as tensions persist in the Strait of Hormuz, a critical route for global oil shipments.
The move aims to stabilize markets, but experts warn that geopolitical risks could continue to affect oil prices.
By:- Divya Sisel
