- Title: Japan to begin releasing national oil reserves with no end seen to supply crisis
- Date: 25th March 2026
- Summary: KAWASAKI, KANAGAWA PREFECTURE, JAPAN (MARCH 18, 2026) (REUTERS) VARIOUS OF OIL STORAGE TANKS, PLANE TAKING OFF IN BACKGROUND WORKERS ON ROOF OF OIL STORAGE TANK, PLANE FLYING IN BACKGROUND SHIP DOCKED AT PIER, OIL REFINERY IN BACKGROUND SHIP PASSING BY OIL REFINERY OIL REFINERY, PLANE LANDING IN BACKGROUND VARIOUS OF SHIP PASSING BY OIL REFINERY AND OIL STORAGE TANKS, GAS
- Embargoed:
- Keywords: crisis gasoline iran japan national oil reserves oil petrol station
- Location: KAWASAKI, KANAGAWA PREFECTURE, JAPAN
- City: KAWASAKI, KANAGAWA PREFECTURE, JAPAN
- Country: Japan
- Topics: Asia / Pacific,Commodities Markets,Economic Events
- Reuters ID: LVA001715025032026RP1
- Aspect Ratio: 16:9
- Story Text: Japan will begin releasing its oil national reserves, tapped from joint oil stockpiles held by producing nations in the country, from Thursday (March 26), after Prime Minister Sanae Takaichi said Tokyo would ramp up emergency measures to offset supply losses from the Middle East.
Global oil prices spiked to their highest levels since 2022 after the U.S. and Israel launched missile strikes on Iran on February 28. The Strait of Hormuz, a key route for oil and liquefied natural gas shipments, remains closed.
Japan's contribution to a record oil stockpile release coordinated by the International Energy Agency will total nearly 80 million barrels, consisting mainly of crude oil, according to the IEA.
As Japan is tapping its reserve funds for gasoline subsidies and, according to Reuters sources, is looking at intervening in the crude oil futures market, local buyers are looking elsewhere, including to the U.S., for supplies.
(Production: Joseph Campbell, Tom Bateman) - Copyright Holder: REUTERS
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