Sending oil prices soaring is one of the tools Iran sees as most effective in its conflict with the US and Israel.

To counter the surge, countries including Germany and Japan are among the 32 IEA members preparing to unlock their strategic reserves.

But with consumers already feeling the strain, IEA chief Fatih Birol warns the release is only a short‑term fix. True stability, he notes, hinges on reopening the Strait of Hormuz.