The release of 400 million barrels by members of the International Energy Agency is designed to "address disruptions in oil ...

The reports of attacks on commercial ships came after the US said it "eliminated" 16 Iranian mine-layers in the area. Elsewhere, two drones were downed near Dubai airport.

Oil sector asked to assess crude quantities available for release into market as war in Iran escalates, Energy Minister says ...

However, energy analysts have told the BBC that given there is a shortage of refining capacity, the release is not a magic switch to increase the flow of refined products like petrol and jet fuel. And ...