Oil prices fell further earlier this morning after a release by the Wall Street Journal suggested the International Energy Agency was planning its largest ever emergency oil reserve release to attempt to offset the impact of the Iran war.
Brent Oil Futures for May fell close to 1% off the back of this report, falling to just shy of $87 per barrel.
Member countries of the International Energy Agency are set to consider the proposal later today. It's reported the reserves being released will be larger than the record 182 million barrels of oil, which were released back in 2022 when Russia invaded Ukraine.
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