Japan releases 2nd batch of strategic oil reserves amid Mideast tensions
Tokyo taps emergency stockpile equal to 30 days of demand as energy supply risks rise
ISTANBUL
Japan on Thursday began releasing a second batch of its strategic oil reserves as conflict in the Middle East continues to disrupt energy supplies.
About 90% of Japan’s energy imports come from Gulf countries and pass through the Strait of Hormuz, a key shipping route now under heightened tension following recent US and Israeli airstrikes on Iran.
According to Kyodo News, Tokyo is releasing reserves equivalent to roughly 30 days of domestic demand — about 8.5 million kiloliters — with the process expected to conclude by the end of April.
This marks Japan’s second release in recent days, following last week’s move to free up private-sector reserves equal to about 15 days of demand, the report said.
Meanwhile, Iran signaled it would allow continued passage through the Strait of Hormuz for what it described as “friendly nations,” including China, Russia, India, Iraq and Pakistan, according to a statement attributed to Foreign Minister Abbas Araghchi and shared by Iran’s diplomatic mission in Mumbai on US social media company X.
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