BBC World Business Report

'Largest ever' oil reserve release agreed by 32 countries

Loading player...
The International Energy Agency is proposing the release of emergency oil reserves to calm energy markets. Also, World Business Express finds out why diesel prices are rising faster than petrol/gasoline. And Leanna Byrne looks at February's US inflation data.
11 Mar 8AM English United Kingdom Business

Other recent episodes

Can a Temporary US Shipping Rule Ease Fuel Costs?

The US is considering temporarily waiving the Jones Act, a century-old law from 1920 that normally requires all goods shipped between US ports to travel on US-built, owned, and flagged vessels. The waiver would allow foreign ships to move fuel between domestic ports for 30 days to help curb rising…
12 Mar 4PM 27 min

Could a $20 billion dollar insurance scheme get more Hormuz ships moving?

A $20 billion push is now on to get tankers moving through the Strait of Hormuz. Meanwhile, Middle East tourism suffers as flights are cancelled, and skies remain closed. And how tens of thousands of people are kidnapped for ransom each year. (Picture: An LPG gas tanker at anchor in…
11 Mar 4PM 30 min

What is needed to steady volatile oil markets?

The International Energy Agency is meeting in Paris to discuss the release of strategic oil reserves in a bid to bolster supplies and calm energy markets as the US-Israel war with Iran ends the 11th day. Sam Fenwick hears from the former head of oil industry and markets at IEA,…
10 Mar 4PM 29 min

Energy price shock as US/Israel war on Iran continues

The world's biggest producer of crude oil, the Saudi firm Aramco, has warned of "catastrophic consequences" if the Straits of Hormuz is blocked for an extended period of time. But as war rages in the middle east, and attacks on shipping severely reduce the transportation of oil and gas, Saudi…
10 Mar 9AM 10 min
All episodes