IEA Executive Director Birol says "we discussed all the available options, including making IEA emergency oil stocks available to the market"

• "In addition to the challenges of transit through the Strait of Hormuz, a substantial amount of oil production has been curtailed. This is creating significant and growing risks for the market".
• "I am also in close contact about the situation with energy ministers from countries around the world, including recent calls with Saudi Arabia, Brazil, India, Azerbaijan and Singapore". 

The comments from IEA Executive Director Birol signal heightened concerns regarding oil supply interruptions due to geopolitical tensions, specifically referencing transit issues through the Strait of Hormuz. The discussion about potentially releasing emergency oil stocks suggests a proactive approach to stabilize markets, indicating that significant price movements could be anticipated, especially in WTI and related commodities, as these developments unfold.