02:06 PM EDT, 03/11/2026 (MT Newswires) -- (Updates with additional information in the fourth paragraph.)

The International Energy Agency's 32 member countries agreed to release a record 400 million barrels of oil from their emergency reserves to combat disruptions in markets stemming from the war in Iran, the IEA said Wednesday.

The UK government said Wednesday it will release 13.5 million barrels as its contribution to the IEA initiative.

Restoring secure shipping routes through the Strait of Hormuz remains the "crucial" long-term solution to the oil supply disruption, the British government added.

Canada's energy and natural resources minister Tim Hodgson said in an X post that the Canadian government will do its part to advance the IEA's strategy and is engaging with oil companies to release some of their reserves.

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