IEA's release of reserves fails to stop oil price surge; analysts: the market completely ignores it, increasing concerns instead

Golden Ten Data reported on March 12 that U.S. President Trump earlier highly praised the International Energy Agency (IEA) for its large-scale release of emergency oil reserves, stating that this would ease pressure on energy prices, while the United States seeks to "complete the final work" in its actions against Iran. However, this apparently did not calm the market. Darrell Fletcher, Head of Commodity Management at Bannockburn Capital Markets, said, "This is exactly what I was concerned about regarding the IEA's release of reserves—it was completely ignored by the market, and now prices are even higher. This may have sent the wrong signal. Do they know something we don't?"