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WTI fell about 1.15% to near $82.30 on March 10 as G7 energy officials signaled readiness to release strategic reserves if needed. The International Energy Agency called an extraordinary meeting of member governments to assess supply security.
Shipping through the Strait of Hormuz remains disrupted.
Possible coordinated reserve releases could add supply and cap crude prices, lowering energy costs for feed production. Continued Strait disruption keeps volatility elevated and the price outlook uncertain.
fxstreet.comGhiles GuezoutMar 10, 2026After 215 past bearish policy events, WTI moved a median +0.1% over 5 sessions (51% higher; middle half -4.4% to +3.3%), and +0.2% over 20.
After 210 past bearish policy events, BRENT moved a median -0.9% over 5 sessions (48% higher; middle half -3.8% to +3.2%), and +0.2% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
G7 readiness to release strategic reserves and the IEA's extraordinary meeting eased supply fears, adding downward pressure.
