IEA has proposed the largest ever release of oil from strategic reserves to bring down the price of crude, according to WSJ

• "Countries would decide Wednesday whether to release oil stocks in an attempt to tame crude prices".
• "The release would exceed the 182 million barrels of oil that IEA member countries put onto the market in two releases in 2022 when Russia launched its full-scale invasion of Ukraine".

The IEA's proposed release of oil from strategic reserves is significant, as it aims to curb rising crude prices amid geopolitical tensions. This unprecedented move could impact not only oil prices but also inflation expectations and broader market sentiment, especially in energy-related assets and currencies of major oil-importing nations.