Oil price today (March 11, 2026): Crude falls to $88 a barrel after IEA proposes largest oil reserve release
Oil prices fell to around $88 per barrel after a report said that the International Energy Agency (IEA) is considering a record release of emergency oil reserves to stabilise global markets amid the escalating conflict in the Middle East, according to Bloomberg.
According to a report by the Wall Street Journal, the proposed release could exceed 182 million barrels of oil. This was the amount that IEA member countries released in February 2022 after Russia launched its full-scale war on Ukraine.
