Oil Reserves Hit as Iran Conflict Disrupts Strait of Hormuz

The IEA released 400 million barrels—its largest emergency drawdown ever—to buffer an Iran-related supply shock. That's four days' worth of global oil use. The Strait of Hormuz, through which one-fifth of the world's oil passes daily, faces disruption. The release buys time but doesn't fix the problem. If the chokepoint stays squeezed, reserves drain without solving it—leaving less cushion for the next crisis.