00:00Oil prices remained well below the peaks reached earlier this week as concerns in energy markets showed signs of easing
00:08as Iran has effectively halted traffic through the Strait of Hamus.
00:12The easing was supported by the proposal of the International Energy Agency, IEA, to release a record amount of oil
00:19reserves to help offset a global supply shock.
00:23According to reports, the IEA proposal would exceed the 182 million barrels released in 2022 after Russia's invasion of Ukraine.
00:34IEA member countries hold more than 1.2 billion barrels of public emergency oil stocks, along with around 600 million
00:43barrels held by industry under government obligations.
00:47This week, long queues for petrol began to surface in several countries around the world, driven by panic buying, supply
00:55chain disruptions and surging oil prices following the conflict in the Middle East.
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