- Today
- Holidays
- Birthdays
- Reminders
- Cities
- Atlanta
- Austin
- Baltimore
- Berwyn
- Beverly Hills
- Birmingham
- Boston
- Brooklyn
- Buffalo
- Charlotte
- Chicago
- Cincinnati
- Cleveland
- Columbus
- Dallas
- Denver
- Detroit
- Fort Worth
- Houston
- Indianapolis
- Knoxville
- Las Vegas
- Los Angeles
- Louisville
- Madison
- Memphis
- Miami
- Milwaukee
- Minneapolis
- Nashville
- New Orleans
- New York
- Omaha
- Orlando
- Philadelphia
- Phoenix
- Pittsburgh
- Portland
- Raleigh
- Richmond
- Rutherford
- Sacramento
- Salt Lake City
- San Antonio
- San Diego
- San Francisco
- San Jose
- Seattle
- Tampa
- Tucson
- Washington
Asian Stocks Rise, Oil Stabilizes After IEA Reserves Release Report
Proposed record release of reserves aims to counter soaring oil prices amid Middle East conflict
Published on Mar. 11, 2026
Got story updates? Submit your updates here. ›
Asian equities extended gains on Wednesday as oil prices stabilized after a report said the International Energy Agency was considering the release of a record amount of its reserves to counter soaring prices. The crude market has been hit by volatility since the US and Israel began striking Iran, with Tehran retaliating and effectively shutting down the crucial Strait of Hormuz. However, prices dropped on Tuesday after President Trump said the war would "be ended soon" and the G7 discussed tapping stockpiles.
Why it matters
The proposed IEA reserves release could help ease the supply crunch and volatility in global oil markets caused by the ongoing conflict in the Middle East. This is crucial for the global economy, which is still recovering from the impacts of the COVID-19 pandemic. Maintaining stable energy prices is a key priority for policymakers.
The details
The IEA plan, which was circulated at an emergency meeting of energy officials on Tuesday, would exceed the 182 million barrels that member countries released after Russia's 2022 invasion of Ukraine. A decision on the release is expected on Wednesday. Brent and West Texas Intermediate crude prices dropped around 5% on Wednesday but pared some of those losses as investors remain concerned about the potential for further disruptions to oil supply from the region.
- On Tuesday, the IEA proposal for a record reserves release was circulated at an emergency meeting of energy officials.
- A decision on the IEA reserves release is expected on Wednesday.
The players
International Energy Agency (IEA)
An intergovernmental organization that works to ensure reliable, affordable and clean energy for its 32 member countries.
Donald Trump
The former President of the United States who stated that the war with Iran "is going to be ended soon".
What they’re saying
“Until traders see clear confirmation that shipping routes are secure and production across the region is stabilising, oil prices are unlikely to retreat significantly further from current levels.”
— Fawad Razaqzada, Analyst at Forex.com (AFP News)
“Guidance out of Israel and the US is showing a divergence around the endgame, with President Trump having suggested the end is insight while Israeli Prime Minister (Benjamin) Netanyahu's comments suggest he is not ready to de-escalate.”
— Skye Masters, Analyst at National Australia Bank (AFP News)
What’s next
The IEA is expected to announce its decision on the proposed record release of oil reserves on Wednesday, which could provide further clarity on the outlook for global energy markets.
The takeaway
The proposed IEA reserves release highlights the critical importance of maintaining stable energy supplies and prices for the global economy. However, the ongoing conflict in the Middle East continues to pose significant risks, underscoring the need for coordinated international action to address the situation and its economic impacts.
