Record release of emergency oil reserves as Iran strikes more cargo ships | ABC NEWS

By ABC News (Australia)

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32 member countries have elected to release the largest volume of the International Energy Agency’s oil reserves in its history, as three more commercial vessels were hit in Iran’s attempt to close the Strait of Hormuz. US President Donald Trump claims US forces have hit 16 Iranian mine-laying ships, while the White House continues to ramp up its bombardment of Iran. Meanwhile, increasingly angry members of the Lebanese public have blamed Hezbollah for dragging the country into the war in the Middle East, as the IDF struck non-traditional areas such as central Beirut and eastern Lebanon. Subscribe: http://ab.co/1svxLVE Read more here: https://www.abc.net.au/news/2026-03-12/iea-oil-reserves-release-as-ships-hit-in-strait-of-hormuz/106444242 ABC NEWS provides around the clock coverage of news events as they break in Australia and abroad. It's news when you want it, from Australia's most trusted news organisation. For more from ABC NEWS, click here: https://ab.co/2kxYCZY Watch more

Tags: Australia, abc, abc news, news, IEA, International Energy Agency, Donald Trump, US President, Strait of Hormuz, Iran, Islamic Republic, Iran strikes, Iran attacks, Tehran, Iran war, war in Middle East, Washington, White House, oil prices, Iranian oil