The IEA will reportedly announce its recommendation on strategic oil reserve release at 13:00GMT/09:00EDT

The IEA's upcoming recommendation regarding the strategic oil reserve release could signal important shifts in supply dynamics, particularly amid ongoing geopolitical tensions.

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Japanese PM Takaichi says to start releasing part of its oil reserves as early as on March 16; to release 15 days worth of private sector oil reserves and one month worth of state oil reserves

Black Sea CPC blend oil exports were reportedly revised down to around 1.4-1.5mln BPD for March (prev. 1.7mln BPD)

The IEA will reportedly announce its recommendation on strategic oil reserve release at 13:00GMT/09:00EDT

Hungary's Deputy Energy Minister says the fact-finding committee is on its way to Ukraine to form conditions for restarting oil flows on Druzhba pipeline

[MARKET UPDATE] Crude pullsback from highs, but remains firmer by over USD 3/bbl on the day, allowing US equity futures to pare initial downside with the ES now U/C and European equity bourses off lows

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A coordinated release may ease prices temporarily but signals lingering concerns about energy security and demand. Traders should monitor market sentiment and potential reactions across oil and related commodities as the announcement approaches.

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