Hungary's MoL initiates the release of strategic crude oil reserves to maintain security of supply in the region

• No oil delivered via Druzhba pipeline since Jan 27th.
• Began supplying its refineries with seaborne crude oil to make up for the shortfall.
• If shipments from the East do not resume in coming days, Hungary may need to release c. 250k T of strategic crude oil in the first round.

Hungary's decision to release strategic crude oil reserves highlights a critical response to supply disruptions via the Druzhba pipeline, which hasn't delivered oil since late January. This move ensures regional energy security amid rising tensions, and if shipments don't resume soon, the potential release of 250k tons could impact global oil prices, especially WTI and Brent, by altering supply dynamics in the short term.