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The International Energy Agency has approved the accelerated release of approximately 100 million barrels from its emergency stockpiles, launched in March 2026, to bolster oil supplies and ease pressure on the fuel market. The focus is especially on releasing diesel stocks, which are facing severe shortages due to the Iran conflict and its impacts on refineries and shipping. Priority is being given to releasing diesel inventories to address rising prices and the damage to fuel supplies, amid uncertainty about the exact volume of oil and diesel released so far. The plans are currently under review during the Agency's board meeting scheduled for next week. This move follows the G7 agreement to release 100 million barrels of oil and aims to increase pressure on markets to address disruptions that have negatively affected fuel prices and the global energy industry.
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