05:13 AM EDT, 03/11/2026 (MT Newswires) -- The International Energy Agency has proposed to release oil reserves following an emergency meeting Tuesday to help lower prices that have surged amid the US-Israel war with Iran, The Wall Street Journal reported Tuesday, citing officials familiar with the matter.

The release would surpass the 182 million barrels that the agency put on the market in two releases in 2022 after Russia invaded Ukraine, the officials were quoted as saying.

The proposal could be delayed even if a member of the IEA objects to it, the publication reported.

West Texas Intermediate crude oil was up 4.7% at $87.39 a barrel early Wednesday. On Monday, WTI crude futures traded just below $120 per barrel during the session.

The IEA didn't immediately respond to MT Newswires' request for comment.

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