Japan Unleashes Oil Reserves Amid Strait of Hormuz Fears, IEA Call

• Japan begins releasing private sector oil reserves due to concerns over Strait of Hormuz closure and IEA's call for global supply boost.
• The move aims to prevent shortages and stabilize fuel prices as West Asia supply via the crucial Strait of Hormuz faces disruption.
• Private companies will release 26.5 million barrels (15 days' consumption) by temporarily reducing mandatory reserves from 70 to 55 days.
• Government also plans to sell one month's worth of national crude oil reserves, making total release equivalent to 45 days' consumption – Japan's largest ever.
• This decision follows IEA's agreement for a coordinated global release of 400 million barrels to ease energy market pressure.