The International Energy Agency recommends releasing the largest-ever oil reserves to counter the surge in crude oil prices caused by the US-Israel and Iran conflicts, which is expected to exceed 182 million barrels during the Russia-Ukraine conflict in 2022. Countries will discuss and decide whether to approve the proposal at an emergency meeting.

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The US military announced it struck Iranian naval vessels believed to be laying mines near the Strait of Hormuz. Some reports indicate that between 10 and 16 Iranian mine-laying vessels were destroyed. The US military conducted an operation targeting Iranian naval elements suspected of laying mines near the Strait of Hormuz. US Central Command (CENTCOM) stated that 16 Iranian naval vessels capable of laying mines were destroyed in the strikes.
The operation was reportedly carried out based on intelligence indicating that Iran was preparing to lay naval mines in the Strait of Hormuz, a critical waterway for global oil trade. The US administration emphasized that military measures against attempts threatening freedom of navigation in the region may continue.
The Strait of Hormuz is considered a strategic waterway through which approximately 20% of global oil shipments pass, and rising tensions in the region are closely monitored for their impact on energy markets and global security.