Gate News reports that on March 11, the market is awaiting the G7’s decision on whether to release a record strategic oil reserve proposal from the IEA (International Energy Agency), during which crude oil futures rose. FxPro analyst Alex Kuptsikevich stated that releasing oil reserves does not necessarily lower oil prices. He pointed out that in 2022, after the reserve release, oil prices actually increased because traders interpreted it as a “signal of market fragility.” On the other hand, he added that during the 1991 Iraq invasion, the U.S. released reserves, and oil prices did indeed decline at that time. He said, “The oil market is focused on two main issues: the speed of ending the Middle East conflict and how it ends.”
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