Iran Denies Agreement to Renew US Talks amid Rising Maritime Tensions
Japan Releases Oil Reserves amid West Asia Crisis
Mar 26, 2026Japan has begun releasing 30 days’ worth of oil from its state reserves in an effort to cushion the economic impact of the ongoing West Asia conflict, as concerns over supply disruptions continue to push global oil prices higher.
The move follows an earlier decision to draw down 15 days’ worth of oil from private-sector stockpiles last week. According to media reports, the government plans to release approximately 8.5 million kilolitres of oil from 11 storage facilities across the country. In addition, Japan will tap into joint oil reserves held domestically by three West Asian nations, with about five days’ worth of supply expected to be made available to wholesalers by next Tuesday.
Japan relies on West Asia for more than 90 percent of its crude oil imports, making it particularly vulnerable to supply shocks. The current crisis has raised fears of a potential disruption in the Strait of Hormuz, a key global oil transit route, following the escalation of tensions involving the United States, Israel, and Iran in late February.
The disruption has already led to a sharp increase in global crude oil prices, with retail fuel costs rising in many countries. Japan’s decision is aimed at stabilizing domestic supply and mitigating the economic fallout as the geopolitical situation continues to evolve.
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