IEA May Release More Oil Reserves as Prices Top $100 Per Barrel

The International Energy Agency (IEA) may release another batch of strategic petroleum reserves (SPR) if crude oil prices remain elevated, according to Senior Oil Market Analyst at Sparta Commodities June Goh.

Goh stated that the IEA had not yet exhausted its previously announced emergency release and suggested that sustained higher oil prices could prompt another coordinated intervention.

The IEA released 400 million barrels of strategic petroleum reserves in March, but Goh noted that this allocation has not been fully utilized, leaving room for additional releases if needed.

Brent crude has surpassed the $100 per barrel mark amid escalating geopolitical tensions and supply concerns, with prices trading at $96.78 per barrel as of reporting.