Over 400 Million Barrels Of Emergency Oil To Flow To Markets Soon, IEA Says
The International Energy Agency (IEA) said on March 15 that oil from its emergency reserves will start flowing to global markets soon, as member states pledged to make 411.9 million barrels available.
The IEA said stocks from the countries of Asia and Oceania will be available immediately, while stocks from Europe and the Americas will be released at the end of March.
"The war in the Middle East is creating the largest supply disruption in the history of the global oil market. This emergency collective action, by far the largest ever, provides a significant and welcome buffer," the statement published online said.
"But the most important factor in ensuring a return to stable flows is the resumption of regular transit of shipping through the Strait of Hormuz," it added.
Israelis Still Back Iran War, But Fatigue Is Setting In
- By Ray Furlong
Opinion polls suggest Israelis continue to support the war in large numbers. But nearly everyone here also says they're exhausted by conflict.
RFE/RL's Ray Furlong has the latest in his video report from Tel Aviv.
NetBlocks: Iran's Remaining 1% Internet Connectivity Disrupted
Following reports circulating on social media about data centers losing access on March 15, the digital monitoring group NetBlocks said that the remaining 1 percent of Internet connectivity in Iran has also experienced disruptions.
In a post on its X account, the group wrote that technical indicators show a "collapse" in Internet connectivity in one of Iran’s most important telecommunications networks.
NetBlocks also said that Iran’s domestic National Information Network, commonly referred to as the “national internet,” has become unstable.
Social media users say access to VPN services inside Iran has been severely restricted, and reports have emerged of disruptions affecting domestic messaging platforms as well -- something that previously occurred after the deadly January 8 protests.
The Islamic republic cut Internet access across Iran in the early hours of February 28, shortly after the start of US and Israeli attacks. Over the past 16 days, connectivity from inside the country has dropped to around 1 percent.
Experts and rights groups say Internet shutdowns in Iran can limit information leaving the country and help authorities control the narrative during unrest or conflict.
Israel Denies Report It Is Running Low On Missile Interceptors
The Israeli military said it is “prepared and ready to handle any scenario” while denying reports that it is running critically low on missile interceptors amid ongoing attacks from Iran and its allies.
The statement came after a media report suggested Israel had warned the United States Israel has warned the United States that its stocks ballistic missile interceptors were being depleted amid its war with Iran.
Israeli officials declined to discuss specific munitions levels but said defense planning had anticipated sustained missile attacks, The Times Of Israel reported.
The issue has drawn attention as the war with Iran enters its third week, with Israel’s air defense systems under heavy strain from frequent missile salvos targeting cities and military infrastructure.
Analysts have warned that prolonged fighting could strain missile defense stockpiles in both Israel and the United States.
User-generated footage has been shared on social media showing a fire at a facility belonging to the Iranian Space Research Center (ISRC)in the Tarasht district of the Iranian capital.
The center in west Tehran -- which is Iran's leading satellite and intelligence mapping research agency -- has reportedly suffered significant damage from Israeli-US strikes.
US Energy Secretary Says Iran War Could End In 'Next Few Weeks'
US Energy Secretary Chris Wright said he anticipates the war with Iran will end within “the next few weeks,” with oil supplies recovering and energy costs likely to fall afterward.
“I think this conflict will certainly come to an end in the next few weeks -- it could be sooner than that,” Wright told the ABC political talk show This Week on March 15. “Once it ends, we’ll see a rebound in supplies and downward pressure on prices.”
Oil prices climbed above $100 per barrel this week amid reports of attacks on ships in the Persian Gulf -- which handles about one-fifth of global oil transport -- and the closure of key oil terminals.
South Korea Says Its Monitoring Trump Call To Send Warships To Hormuz
South Korea said it is "closely monitoring" US President Donald Trump’s call for allied countries to send warships to help protect shipping through the Strait of Hormuz, AFP reported on March 15.
Trump said on social media that “many countries” would deploy naval vessels to keep the key oil route open, naming South Korea and Japan among others.
A South Korean presidential official told AFP that Seoul would “carefully consider the matter in close consultation with the United States” while exploring measures to safeguard energy supply routes.
The comments come as the war with Iran has severely disrupted traffic through the strait, which normally carries about one-fifth of global oil shipments.
Japan also signaled caution about deploying naval forces.
Iranian Foreign Minister Urges France To Avoid Steps That Could Escalate Conflict
Iranian Foreign Minister Abbas Araqchi has reportedly warned in a phone call with his French counterpart that France should “refrain from any action that could escalate or expand the conflict.”
Iranian media reported on March 15 that Araqchi had spoken by phone with French Foreign Minister Jean-Noel Barrot as tensions continue to rise across the Middle East.
According to a statement from Iran’s Foreign Ministry, Araqchi told Barrot that the United States and Israel were responsible for insecurity in the region and the Strait of Hormuz, and urged other countries to avoid actions that could widen the conflict.
The comments come amid an ongoing regional crisis that has included Iranian strikes across the Persian Gulf and concerns over disruption to shipping through the strait.
France’s Foreign Ministry has not yet not issued a statement on the conversation.
Araqchi’s comments came a day after US President Donald Trump called on several countries to help keep the Strait of Hormuz open, naming China, France, Japan, South Korea, and the United Kingdom as potential contributors.
F1 Cancels Bahrain, Saudi Grands Prix In April Over Middle East Conflict
Formula 1 said the Bahrain and Saudi Arabian Grands Prix scheduled for April have been called off due to the ongoing conflict in the Middle East.
The decision was made after consultations with the FIA, world motor racing's governing body, and race promoters, and organizers said no replacement races would be scheduled for April.
Support series events for Formula 2, Formula 3, and the F1 Academy will also not be held as planned. Formula 1 President and CEO Stefano Domenicali said the move was difficult but necessary given the regional situation, while FIA President Mohammed Ben Sulayem said safety remained the top priority.
Officials in Bahrain and Saudi Arabia said they supported the decision and hoped to welcome the championship back when conditions allow.
Report: Israel Running Low On Ballistic Missile Interceptors
Israel has warned the United States that it is running critically low on ballistic missile interceptors amid its war with Iran, unnamed US officials told Semafor, a US-based news website.
The report said Israel entered the conflict with already depleted interceptor stocks following last year’s fighting with Iran, and the pace of Iranian missile attacks has further strained its long-range air defenses.
A US official told Semafor that Washington had anticipated the shortage and that American forces are not facing similar constraints.
It remains unclear whether the United States will provide interceptors to replenish Israel’s supplies.
Analysts have warned that prolonged fighting could strain missile defense stockpiles in both Israel and the United States.