# Crude prices close higher IEA announces historic oil reserve release

> Crude prices rose more than 4% on March 11 as traders weighed attacks on commercial vessels off Iran and Strait of Hormuz disruption. Brent closed at $91.98 and U.S. crude at $87.25, while the IEA agreed to release 400 million barrels from emergency reserves, the largest release in its history.

- Date: 2026-03-11 · published 2026-03-11T12:00:00.000Z
- Category: policy · region Global · magnitude high
- Page: https://feedsoft.ai/events/20328-crude-prices-close-higher-iea-announces-historic-oil-reserve-release
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

The record stock release is a major policy response to lost Gulf supply, though it did not offset the tanker risk. Persistent crude strength keeps biofuel feedstock and fertilizer costs elevated for feed buyers.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2023-04-02 | [Oil prices: Brent crude, WTI surge after OPEC producers announce production cuts \| CNN Business](https://feedsoft.ai/events/7953-oil-prices-brent-crude-wti-surge-after-opec-producers-announce-production-cuts.md) | +7.4% | +1.0% |
| BRENT | 2023-07-03 | [Saudi Arabia, Russia deepen oil cuts, sending prices higher](https://feedsoft.ai/events/35201-saudi-arabia-russia-deepen-oil-cuts-sending-prices-higher.md) | +5.2% | +13.4% |
| BRENT | 2018-07-24 | [France's Avril Raises Biodiesel Output On Higher Oil Prices, Demand](https://feedsoft.ai/events/64125-france-s-avril-raises-biodiesel-output-on-higher-oil-prices-demand.md) | +2.4% | -2.2% |
| BRENT | 2020-04-02 | [China’s strategic crude reserve buy extends oil’s rebound](https://feedsoft.ai/events/6564-china-s-strategic-crude-reserve-buy-extends-oil-s-rebound.md) | +49.5% | +11.2% |
| BRENT | 2022-10-19 | [Oil up in tight market as U.S. sets release of more reserves \| Reuters](https://feedsoft.ai/events/39280-oil-up-in-tight-market-as-u-s-sets-release-of-more-reserves-reuters.md) | +3.2% | +4.8% |
| WTI | 2023-04-02 | [Oil prices: Brent crude, WTI surge after OPEC producers announce production cuts \| CNN Business](https://feedsoft.ai/events/7953-oil-prices-brent-crude-wti-surge-after-opec-producers-announce-production-cuts.md) | +5.4% | -0.0% |
| WTI | 2023-07-03 | [Saudi Arabia, Russia deepen oil cuts, sending prices higher](https://feedsoft.ai/events/35201-saudi-arabia-russia-deepen-oil-cuts-sending-prices-higher.md) | +3.4% | +15.8% |
| WTI | 2018-07-24 | [France's Avril Raises Biodiesel Output On Higher Oil Prices, Demand](https://feedsoft.ai/events/64125-france-s-avril-raises-biodiesel-output-on-higher-oil-prices-demand.md) | +4.3% | -2.1% |

## Sources

- cnbc.com: https://www.cnbc.com/2026/03/11/oil-price-today-crude-wti-us-iran-war-strait-hormuz-iea.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.