NEW YORK — A widening war in Iran has halted oil tankers, made targets of refineries and spooked investors worried about the cascading impact of spiking energy prices. In response, the International Energy Agency agreed on Wednesday to release the largest volume of emergency oil reserves in its history, with the Paris-based organization pledging to make 400 million barrels of oil available from its member nations’ stockpiles. The announcement marked a shift in momentum in government response to the war upending the flow of oil, with other global leaders previously indicating reluctance to tap into stockpiles. Here is a look at the energy supplies that countries hold and when they tap them: Many countries have reserves of oil Since war erupted in the Middle East on Feb. 28 with the U.S. and Israel’s joint attacks on Iran, the flow of oil tankers through the Strait of Hormuz has all but stopped, cutting off a vital passageway where roughly one-fifth of the world’s oil sails through on a typical day. Major producers in the region like Iraq, Kuwait and the United Arab Emirates have also
China’s car exports surge as expectations grow for EV pivot on Iran war energy shock
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