Japan has begun releasing oil from private reserves to stabilize supply as the Iran conflict disrupts the Strait of Hormuz. The release covers 15 days of consumption, while total emergency reserves—including government and private stocks—cover 254 days. The move follows a broader IEA initiative to release 108.6 million barrels across Asia-Oceania. Diplomatic talks are ongoing to secure the waterway. Japan and the US reaffirmed cooperation, but Tokyo and other allies, including Australia, have no immediate plans for naval deployment. Global oil prices continue to rise amid uncertainty.

Disclaimer: This image is taken from Reuters.