IEA’s 400 Million-Barrel SPR Release Seen as Cushion for Iran-Driven Price Shock
The International Energy Agency’s planned release of 400 million barrels from strategic reserves is likely to blunt the immediate market impact of the Iran conflict, broker Wolfe Research says, but the ultimate effect hinges on how quickly and steadily the oil is deployed. Markets reacted early to reports about the plan, pricing much of the move in…