US to release 172 million barrels of oil reserves

Tensions with Iran push oil prices up

Iran's recent aggressive actions, like firing on commercial ships and threatening US allies, have made global markets nervous and sent oil prices climbing, even after the International Energy Agency announced that member countries would release about 400 million barrels from emergency reserves.
Despite these efforts, prices are still up over 4%, and the situation remains tense as countries work to stabilize energy supplies.