12:03 - 16.03.2026

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March 16, Fineko/abc.az. The International Energy Agency (IEA) has announced the release of more than 400 million barrels of oil from the strategic reserves of the participating countries amid disruptions through the Strait of Hormuz and rising prices due to military tensions involving Iran.

ABC.AZ informs that nearly 72% of the volume will be crude oil and the rest - petroleum products. Deliveries will proceed gradually, first from Asia and Oceania, and by the end of March from Europe and America. Analysts warn that the measures can only temporarily diminish pressure on prices while maintaining geopolitical risks.