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A worldwide pledge by governments to tap emergency reserves on Wednesday has not stemmed oil's rise.
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US to release 172 million barrels of oil from strategic reserve to combat energy price hike PoliticoIEA agrees to release record 400 million barrels of oil to address Iran war supply disruption CNBCOil continues to rise despite deal to release record amount of reserves BBCNations agree to release oil reserves as war in Iran hits global economy The Washington Post
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The Iran conflict has sparked tumult in global equity markets, with major indexes in some markets, including South Korea, falling into correction territory.
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The United States and Israel launched more strikes against Iran, where crowds mourned military commanders killed in the war. Israel also bombed targets in Lebanon, where the death toll climbed.
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Live updates: Strait of Hormuz in crosshairs of Iran conflict as attacks on ships escalate CNNIran escalates attacks on infrastructure and transport networks across the Gulf The GuardianIran War Live Updates: Iran Lays Mines in Strait of Hormuz, Triggering U.S. Response WSJIran Live Updates: 32 Countries to Release Oil Reserves as Strait of Hormuz Attacks Increase The New York TimesLive updates: Global energy concerns mount as Iran effectively stops cargo traffic in the Strait of Hormuz AP News
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Unprecedented move underscores fears of threat to global economy from Middle East war
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