Brenta's price is stable at $88, pending possible release of oil reserves
According to The Wall Street Journal this Wednesday, the International Energy Agency (IAE) has proposed the largest release of oil reserves in its history to reduce oil prices, which would exceed the 182 million barrels of oil that IAE countries placed in 2022 when Russia invaded Ukraine.
Brent crude prices remain stable this Wednesday after rising 0.33% to $88, waiting to know whether the International Energy Agency (IAE) will release oil reserves in order to reduce prices, in the context of the US-Israel attack on Iran.
According to market data collected by the agencies, at 07:00 local time (06:00 GMT) the brenta, the European reference for crude oil, has risen 0.33% since the day before to $88.07.
According to The Wall Street Journal this Wednesday, the International Energy Agency (IAE) has proposed the largest oil reserve release in its history to lower prices.
This release would exceed the 182 million barrels that IAE countries put on sale in two rounds when Russia invaded Ukraine.
The proposal for the release of barrels was made on Tuesday at an urgent meeting of energy officials from the 32 IAE member countries.
The measure would be adopted if no country obstructs it; a single country's refusal would delay its implementation.
The G7 countries have also expressed their readiness to "act urgently, at the necessary time and with all possible instruments" to stabilize oil prices.
Although the price has risen steadily on Wednesday, yesterday it fell 11.28%, after Donald Trump said the war against Iran was almost "over." However, prices rose dramatically at the beginning of the week and the barrel nearly reached $120, an unprecedented level since the first months of the war in Ukraine at the beginning of 2022.
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