The International Energy Agency (IEA) has announced the largest coordinated release of strategic-oil reserves to stabilise global markets.
Around 400 Million barrels will be released, with supplies in Asia and Oceania starting immediately and Europe and the Americas by the end of March.
The move aims to counter rising fuel prices triggered by ongoing conflict pressures on global energy supply.
U.S. Energy Secretary Chris Wright said tensions could ease in the coming weeks, raising hopes of stabilising oil prices.
