The US 'plays with fire', and many countries rush to rescue oil prices | from 9028-72-2 Price Impact

from

The US 'plays with fire', and many countries rush to rescue oil prices

Published on 2026-03-14

The U.S. is "playing with fire" in the Middle East, causing oil prices to become unstable. Many countries have been forced to urgently release their oil reserves to stabilize the market.  
"The member countries of the International Energy Agency (IEA) have unanimously decided to launch the largest emergency oil reserve release in the agency's history," said IEA Executive Director Fatih Birol on the 11th.  
On the same day, the IEA issued a statement announcing that 32 member countries had agreed to release 400 million barrels of strategic oil reserves to address oil price fluctuations triggered by U.S. and Israeli airstrikes on Iran.  
At the same time, multiple countries have successively announced emergency actions to release oil reserves.

**Many Countries Forced to Release Reserves in Emergency**  
U.S. President Donald Trump "relented" on the 11th, stating that he would "slightly" reduce strategic oil reserves to lower oil prices. The U.S. Department of Energy announced on the same day that it would release 172 million barrels of strategic oil reserves.  
The United Kingdom pledged to release 13.5 million barrels of oil from its emergency reserves. German Minister of Economy and Energy Peter Altmaier stated that the German government would release 19.51 million barrels of strategic oil reserves. The South Korean government announced that it would release 22.46 million barrels of oil reserves.  
The Dutch government declared it would release approximately 5.36 million barrels of strategic oil reserves, accounting for about 20% of the country's strategic reserves.  
The energy departments of Latvia, Estonia, and Lithuania issued a joint statement, stating that the three countries are prepared to utilize their oil reserves.  
Japan also decided to independently release its national oil reserves. This marks the first time Japan has independently released its national oil reserves since the establishment of the national oil reserve system in 1978.  
Shortly before this, Pakistani Prime Minister Shehbaz Sharif announced a series of austerity measures to save fuel on the 9th, calling on all sectors of society to "use petroleum products rationally."  
The IEA was established after the Middle East oil crisis in the 1970s. Its member countries must maintain at least 90 days of crude oil supply reserves to release into the market in the event of supply shocks. Previously, after the outbreak of the Ukraine crisis in 2022, IEA member countries also released approximately 182 million barrels of oil into the market.  
Now, the Ukraine crisis continues to affect global energy supplies, while military conflicts in the Middle East are causing new shocks to international oil prices.  
Faced with fluctuations in the global energy market caused by disruptions in the Strait of Hormuz—with international oil prices once approaching $120 per barrel and the average price of regular gasoline in the United States reaching its highest level in over 20 months—the IEA had to urgently launch a "historic" release plan.  
"A combination of global circumstances and decisions by the Trump administration and other parties has led to the resurgence of the 'energy weapon,' with oil once again becoming a geopolitical tool," wrote *The New York Times*. From Venezuela to Cuba and Iran, oil can be a "prize" or a "powerful coercive tool."

**U.S. Attitude "Dramatically Reversed"**  
With many countries urgently releasing oil reserves, how will oil prices move?  
*The Wall Street Journal* believes that there is widespread skepticism about whether these measures can keep oil prices below $100 per barrel.  
Typically, over 20 million barrels of oil are transported daily through the Strait of Hormuz to meet the global demand of over 100 million barrels per day. The current release scale is equivalent to only about 20 days of transportation through the strait, which is insufficient to alleviate market concerns about further supply disruptions.  
The "inconsistency" of U.S. government policies has also raised concerns among some observers.  
According to reports, U.S. Energy Secretary Dan Brouillette conveyed the White House's stance to G7 officials on the 10th, attempting to argue that large-scale intervention in the oil market was "premature." However, just a few hours later, the Trump administration's attitude "dramatically reversed"—urging countries to conduct large-scale oil reserve releases and persuading allies to take action.  
This undoubtedly reflects the "inconsistency in decision-making" of the U.S. government in handling conflicts with Iran. Sam Datta, Executive Director of Policy at the Washington-based research institution Employ America, commented, "The fundamental issue that shocks me is that the U.S. was completely unprepared for the consequences of this war on the energy market."  
Caroline Bain, Chief Economist at Capital Economics in London, stated, "Even if military actions end quickly, the speed at which IEA member countries supply emergency oil reserves to the market will still be unable to simultaneously compensate for the supply losses in the Middle East."  
Rebecca Babin, Senior Energy Trader at CIBC Private Wealth Management, also pointed out that certain measures can "buy time for the market and provide short-term relief, but they cannot solve the core problem."  
Babin emphasized that the real solution to stabilizing the oil market "ultimately lies in restoring reliable supplies through the Strait of Hormuz."

Welcome to Chempricehub