Japan has begun releasing emergency oil reserves after the Iran War disrupted energy flows through the Middle East and triggered a surge in global crude prices.
It will start releasing 15 days’ worth of private-sector oil on March 16 and a month’s worth from the state reserves from late this month, according to the country’s Ministry of Economy, Trade and Industry (METI).
Yuriy Humber, CEO of Tokyo-based consultancy Yuri Group, said the reserves can help stabilize supplies and prices in the short term, but “they mainly buy time.”
“They can’t fully offset a prolonged disruption in the Strait of Hormuz,” he said….
Japan Starts Releasing Stockpiled Oil Amid Iran Crisis
