Japan Denies Releasing Strategic Oil Reserves Amid Middle East Tensions and Surging Crude Prices

TLDR: Japan holds the world’s third-largest petroleum reserves, covering roughly 254 days of domestic consumption needs. Over 90% of Japan’s crude oil imports pass through the Strait of Hormuz, raising serious energy security concerns. Brent crude briefly surged near $120 per barrel, marking one of the sharpest oil price spikes seen in decades. Governments discussing [...]

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