Japan moves to stabilize oil supply with reserve release ...Iraq

Japan began releasing state-held oil reserves to stabilizedomestic supply as the US-Israeli war with Iran disrupts energy flows throughthe Strait of Hormuz, Japan Today reported on Thursday, citing the Japanesegovernment.

According to Japan’s Kyodo agency, Tokyo relies on theMiddle East for more than 90% of its crude imports, raising concerns oversupply shortages after Iran effectively blocked the Strait of Hormuz, a keyglobal energy transit route, following the escalation that began on February28.

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