The International Energy Agency has suggested the biggest drawdown of oil stocks in its history, aiming to lower crude prices that have jumped over the past ten days, the Wall Street Journal reported Tuesday.
The proposed drawdown would surpass the 182 million barrels that IEA member nations released in two batches in 2022 when Russia began its full‑scale invasion of Ukraine, the Journal said, citing officials familiar with the plan.
The IEA is holding an extraordinary meeting of its members on Tuesday, and governments are expected to decide on the proposal on Wednesday, the Journal added.
Benchmark oil prices rose to near four‑year highs on Monday but fell back on Tuesday after Donald Trump said the conflict in the Middle East might end soon. G7 energy ministers stopped short of approving a release of strategic oil reserves on Tuesday and instead asked the IEA to evaluate the situation before taking action.
In contrast to earlier U.S. wars, public opinion polls analysed by the New York Times show most Americans oppose a war in Iran.
In the days following Trump’s order for a U.S. strike against Iran, support for the attack was considerably lower than at the outset of previous foreign engagements, the paper reported.
Surveys indicate a majority of Americans are against the Iran strike, and even the highest level of public backing falls short of that recorded in the early stages of most other conflicts.
Sarah Maxey, an associate professor of international relations at Loyola University Chicago, told the Times that former presidents have traditionally “sold” wars to the public, which may explain part of the difference in sentiment toward this conflict.
Researchers note that presidents have typically enjoyed a “rally‑around‑the‑flag” surge at the start of wars, when public support for leaders swells. That effect has waned in recent decades as political divisions have deepened.
Matthew Baum, a Harvard professor who studies public opinion on foreign policy, told the Times that Democrats are unlikely to rally behind Trump, while his own supporters may remain cautious.
“For this president, any rally he gets comes from a base that believes they elected him to keep the country out of wars,” he said.
Iran launches missiles toward Israel
Iran fired missiles toward Israel, Israel’s military said Wednesday.
“Defence systems are active to intercept the threat,” the statement read on X, and it urged residents to follow instructions sent to mobile phones in the affected area.
Iran’s Revolutionary Guard said it targeted a satellite‑communications centre in Haifa, as well as military installations in Israel and U.S. sites elsewhere in the region, including Iraqi Kurdistan and the U.S. Fifth Fleet base in Bahrain.
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