Japan releases strategic oil reserves amid Middle East supply crisis

News Image

MG News | March 26, 2026 at 05:19 PM GMT+05:00

March 26, 2026 (MLN): Japan has begun tapping into its national oil reserves in a major effort to stabilize energy supplies as tensions escalate due to the ongoing US-Israeli conflict with Iran.

The Japanese government initiated the release of state-held oil equivalent to about 30 days of domestic consumption roughly 8.5 million kiloliters with the process expected to continue through the end of April.

This move follows an earlier release of an additional 15 days’ worth of reserves from private sector stockpiles that started last week, as reported by APP.

The decision comes amid rising concerns over supply disruptions, as Japan depends on the Middle East for more than 90% of its crude oil imports.

The situation has worsened after Iran effectively blocked the Strait of Hormuz, a critical global oil transit route, in response to US and Israeli strikes launched on February 28.

In total, Japan plans to release approximately 80 million barrels of oil, covering around 45 days of national demand.

This marks the largest drawdown of reserves in the country’s history about 1.8 times greater than the amount released following the devastating 2011 earthquake and tsunami.

The energy crunch has already impacted consumers, with average gasoline prices hitting a record 190.80 yen per liter in mid-March. In response, the government has reinstated fuel subsidies to help ease the financial burden.

Meanwhile, the number of oil tankers reaching Japan via the Strait of Hormuz has sharply declined. The disruption is also affecting the chemical industry, which is struggling to secure naphtha, a key petroleum product used in the production of plastics and synthetic fibers.

 

Copyright Mettis Link News

 

 

 

 

Related News

Name Price/Vol %Chg/NChg
KSE100 162,374.88
110.96M
-0.95%
-1549.44
ALLSHR 98,620.11
386.58M
-0.91%
-906.77
KSE30 47,823.16
51.47M
-1.02%
-490.65
KMI30 232,733.99
57.93M
-1.23%
-2903.19
KMIALLSHR 63,955.68
197.75M
-1.12%
-727.41
BKTi 44,724.17
14.61M
-1.01%
-457.04
OGTi 33,033.72
5.00M
-1.08%
-361.88
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 81,530.00 82,030.00
80,990.00
75.00
0.09%
BRENT CRUDE 116.65 117.45
112.74
3.48
3.08%
RICHARDS BAY COAL MONTHLY 128.50 0.00
0.00
-1.10
-0.85%
ROTTERDAM COAL MONTHLY 147.10 0.00
0.00
1.10
0.75%
USD RBD PALM OLEIN 1,182.50 1,182.50
1,182.50
0.00
0.00%
CRUDE OIL - WTI 103.29 103.34
98.84
3.82
3.84%
SUGAR #11 WORLD 20.26 20.51
20.02
0.13
0.65%

Chart of the Day


Latest News
October 23, 2026 at 05:11 PM GMT+05:00

Pioneer Cement profit surges 73% to Rs2bn


October 23, 2026 at 05:02 PM GMT+05:00

PSX Closing Bell: The Red Sequel


October 23, 2026 at 04:50 PM GMT+05:00

Gold price in Pakistan falls Rs7,000 per tola



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg