Brief by Shorts91 Newsdesk / 11:25am on 11 Mar 2026,Wednesday International
Japan will begin releasing part of its oil reserves from March 16 as supply concerns grow due to the Strait of Hormuz blockade. Prime Minister Sanae Takaichi said the country plans to release 15 days of private-sector reserves and about one month of state reserves. The move comes as the Iran-US conflict continues to disrupt oil shipments through the key waterway. Nearly one-fifth of the world’s oil passes through the Strait of Hormuz. There are still no signs that commercial ships can safely resume sailing through the route. Iran and its allies have threatened to target vessels in the area. The G7 countries are also discussing the possible use of strategic reserves to stabilise oil markets. (PC: HT)
