• The IEA has proposed releasing 400 million barrels of oil from member reserves, the largest in its history.
• This move aims to stabilize energy markets amid rising crude prices due to the U.S.-Israeli conflict with Iran.
• Countries like Japan and Germany are also preparing to release their oil reserves in coordination with the IEA's efforts.

The International Energy Agency (IEA) has proposed a historic release of **400 million barrels** of oil from its member countries' strategic reserves to counteract the surging global crude prices driven by the ongoing conflict between the United States, Israel, and Iran. This planned release exceeds the previous record of **182 million barrels** coordinated by the IEA in 2022 following the onset of the war in Ukraine, according to Channel News Asia, Al Jazeera, and Times of India.

The IEA's decision comes amidst growing concerns over oil supply disruptions, particularly through the **Strait of Hormuz**, a crucial route that handles **20%** of global oil. Tensions have escalated following military actions by the U.S. and Israel against Iran, prompting retaliatory attacks by Iran on commercial shipping and oil facilities. The IEA has expressed the need for collective action, emphasizing that "oil markets are global," according to South China Morning Post, SCMP, and Reuters.

Countries such as **Japan** and **Germany** have also announced plans to release their oil reserves. Japan aims to release **15 days'** worth from the private sector and a month's worth from its national reserves as early as this Monday, following calls for expedited action due to the nation's heavy dependence on Middle Eastern oil imports. Meanwhile, German officials have confirmed plans to align their release efforts with the IEA, according to Le Monde, SCMP, and Anadolu Agency.

The G7 countries have also pledged support for the IEA’s approach, highlighting the necessity for a coordinated response to address the market's needs and reduce volatility in oil prices, which have seen significant fluctuations recently, according to Times of India and Reuters.