400M barrel emergency oil release
The move, approved by 32 countries, comes amid reports that Iran has begun deploying minelayer ships to the Strait of Hormuz.
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Oil prices sailed past $100 a barrel for the first time since March 2022 amid the widespread energy disruption in the region over the near-total closure of the Strait of Hormuz, prompting plans by 32 states to release unprecedented levels of oil reserves
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