Japan Halts Oil Reserve Releases Amid Improved Imports

Japan has announced that it will pause further releases from its national crude oil reserves in September and October. This decision comes after alternative crude procurement routes have allowed refiners to rebuild their commercial crude inventories, which had been recovering since last week's strong imports.

The pause in reserve releases is a response to the improved situation, where refinery crude throughput rose to a six-week high in late May, allowing refiners to rebuild their stocks. Japan's consideration of alternative supply routes outside the Middle East has also contributed to this improvement.