Oil Crisis: IEA's Record Release, Iran's Strait Blockade

0:00Sydney's story is making news on March 12th. The international energy agency just triggered its largest ever release of oil reserves to ease the strain from the war with Iran disrupting global. Supplies through the strait of Hormuz. This move aims to counter the sudden shortages as the strait stays closed, but experts say it's only a short-term patch. Even with more reserves unlocked, the oil won't hit markets for weeks, buying time but not fixing the core problem. Saudi Arabia and the United Arab Emirates have bypassed pipelines to the Red Sea, yet Iran keeps targeting those terminals and storage sites, forcing. Production shutdowns across the Middle East, that can last months, oil prices have swung wildly, dipping below $80 a barrel on a false report of a Navy escorted tanker, then climbing back toward $90 or more. Tanker owners refuse to risk the strait amid skyrocketing insurance costs, straining ships and fueling market jitters. President Trump's team seems caught off guard by the prolonged conflict, shifting

1:03talk from regime change to aerial strikes on missile sites. His downplaying of the war as a quick excursion eased prices briefly, though mixed signals from officials keep uncertainty high. The fallout hits airlines in Dubai and Doha Hard, snarling passenger and cargo flights worldwide, while supply chain breaks and oil shocks push up. Even and interest rates, without ground troops, there's no clear path to victory leaving the global economy to bear the mountain cost. The Daily News Now is powered by our sponsor, Link in the description. It looks like a pillow, it sounds like headphones, bill for comfort and sound, S-O-L-I-S-O-L-Pillow.com.