Japan Starts Releasing Stockpiled Oil Amid Iran Crisis

Japan begins historic oil reserve release as Hormuz disruption threatens global supply, with experts warning the move may only buy time.

Signboards display fuel prices outside gas stations, amid the U.S.-Israel conflict with Iran, in Tokyo on March 13, 2026. Issei Kato/Reuters

Japan has begun releasing emergency oil reserves after the Iran War disrupted energy flows through the Middle East and triggered a surge in global crude prices.

It will start releasing 15 days’ worth of private-sector oil on March 16 and a month’s worth ​from the state reserves from ​late this month, according ⁠to the country’s ⁠Ministry of Economy, Trade and Industry (METI).