Release of 400 million barrels sends signal Iran war won't end soon | ABC NEWS

By ABC News (Australia)

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Saul Kavonic from MST Financial says the IEA's decision to release 400 million barrels of oil onto the market is a signal the Strait of Hormuz is unlikely to be opened any time soon. He says the allotted release would cover just one quarter of the oil being restricted by the War in the Middle East. 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 ABC NEWS content ad-free on ABC iview: https://ab.co/2OB7Mk1 Go deeper on our ABC NEWS In-depth channel: https://ab.co/2lNeBn2 Like ABC NEWS on Facebook: http://facebook.com/abcnews.au Follow ABC NEWS on Instagram: http://instagram.com/abcnews_au Note: In most cases, our captions are auto-generat

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