Record emergency oil release signals prolonged Middle East conflict. The International Energy Agency announced the largest strategic reserve drawdown in history, with 32 member countries releasing 400 million barrels of crude oil. This coordinated action suggests energy markets expect the regional conflict to persist for many weeks or months rather than resolving quickly. Despite the announcement, crude prices continued climbing, with Brent crude hitting $100 per barrel and West Texas Intermediate jumping to $95. The skepticism reflects concerns that even massive reserve releases can only offset a fraction of supply losses, particularly given disruptions to the Strait of Hormuz where roughly 20% of global oil transits daily.
