Trump to Tap US Oil Reserves, IEA to Release 400M Barrels: Global Prices to Drop?

• US President Donald Trump announced plans to use America's 'Strategic Petroleum Reserve' to lower petrol prices amidst the Iran war.
• The International Energy Agency (IEA) will release a record 400 million barrels of oil from member countries' reserves to stabilize energy markets.
• This IEA release is more than double the amount from the Russia-Ukraine war, with G7 countries contributing 70% of the total.
• Germany will release 2.64 million tons of oil, and Japan will also tap its reserves starting Monday.
• The move aims to counter disruptions from the 'Strait of Hormuz' and refinery attacks, benefiting all countries.