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US to release 172 million barrels of oil from strategic petroleum reserve
The US President Donald Trump administration plans to release 172 million barrels from the US emergency oil reserve as part of the coordinated effort by nations around the world to ease soaring crude and gasoline prices amid the Iran war, Bloomberg reported on Wednesday.US President Donald Trump: IEA decision to release oil from reserve will reduce oil prices
US President Donald Trump said on Wednesday that the US knocked out Iran's navy and leaders. Trump added that the International Energy Agency (IEA) decision to release oil from reserves will substantially reduce oil prices.Fxstreet
Wed, Mar 11
Sea drones target oil tankers in the Middle East as conflict risks widen — Reuters
Naval drones have been used in at least two attacks on oil tankers in the Gulf region since war erupted between the United States (US), Israel and Iran, suggesting a dangerous new threat in the key shipping lane, Reuters reported on Wednesday.
Silver Price Forecast: XAG/USD falls as US Dollar gains, geopolitical risks persist
Silver (XAG/USD) trades lower on Wednesday, hovering around $85.30 at the time of writing, down 2.12% on the day. The precious metal struggles to extend its recent gains as a rebound in the US Dollar (USD) and higher US Treasury yields weigh on demand for non-yielding assets.
Fxstreet
Wed, Mar 11
IEA announces largest coordinated release of 400 million barrels from Oil reserves
The International Energy Agency (IEA) announced that its 32 member countries unanimously agreed to make 400 million barrels of Oil from their emergency reserves available to the market, notes Reuters. The proposed move represents the largest coordinated release of strategic Oil reserves in history.
Japan, Germany release Oil reserves ahead of IEA decision, WTI drops
According to Reuters, the International Energy Agency (IEA) is set to announce a recommendation regarding the potential release of emergency Oil reserves at 13:00 GMT. The move comes as governments seek to ease pressure on energy markets and contain rising fuel costs.WTI Oil gains on Middle East turmoil while G7, IEA weigh strategic reserve measures
West Texas Intermediate (WTI) US Oil trades around $86.30 on Wednesday at the time of writing, up 1.20% on the day as markets remain focused on escalating geopolitical tensions in the Middle East and potential policy responses aimed at stabilizing global energy supply.US CPI: Energy shock complicates Fed path – Deutsche Bank
Deutsche Bank’s US economists flag February CPI as a key release for Federal Reserve expectations after the recent Oil shock delayed rate-cut pricing. They anticipate tariff-related strength in core goods and higher energy costs lifting headline inflation, while core CPI is seen steady.Fxstreet
Wed, Mar 11
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