Photo: RNZ / Dan Cook
The International Energy Agency's announcement of a record release of oil from strategic reserves has failed to ease supply concerns, with crude prices pushing higher and global equities mostly dropping.
The move to release oil stocks came as Iran said it was ready for a long war of attrition that would "destroy" the world economy, after firing on two commercial ships and threatening any vessels from the United States or its allies.
The IEA announced its member countries woul
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