00:00Oil prices have surged again despite a coordinated release from emergency reserves aimed at calming
00:06markets. Members of the International Energy Agency say they will release 400 million barrels
00:13of oil to ease supply concerns linked to the conflict involving Iran. Even so, benchmark
00:19Brent crude briefly climbed above $100 a barrel during trading. Iran has warned prices could rise
00:26much further as attacks intensify on shipping in the Strait of Hamuz, a route carrying a legal share
00:33of global energy supplies. Analysists say the reserve release may offer a temporary buffer with
00:39fuel costs here at home, likely to remain uncertain while international tensions persist.
Comments