IEA Orders Record Oil Release as Hormuz Fighting Deepens and Prices Top $100

Overview

• Iea members approved a coordinated 400 million‑barrel release, with the United States contributing about 172 million barrels starting next week and Japan and Germany announcing national drawdowns in parallel.
• Brent crude climbed back above $100 and WTI neared $95 after sharp swings this week, with analysts warning the stock release offers only temporary relief.
• Transit through the Strait of Hormuz remains effectively halted as shipping risks escalate, with UKMTO logging multiple incidents and two tankers reportedly hit off Iraq, causing at least one death.
• Iran claims its heaviest missile and drone barrages to date against regional energy sites and U.S.-Israeli targets, while the U.S. military says it struck Iranian mine‑laying vessels near Hormuz and reports about 140 U.S. troops wounded since the conflict began.
• Regional fallout is widening, with Israeli strikes hitting Beirut, Lebanese displacement surpassing 800,000, and major firms including Citi, Deloitte and PwC closing or evacuating Dubai offices after threats and drone incidents.