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IEA Signals Oil Reserve Release Amid Iran War; UK Reopens CO2 Plant; Ireland Warns of Inflation
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IEA Signals Oil Reserve Release Amid Iran War; UK Reopens CO2 Plant; Ireland Warns of Inflation

The International Energy Agency (IEA) is ready to release additional oil reserves following Japan's request, signaling further action amid Middle East tensions and the Iran war, which are expected to lead to higher energy and consumer prices. Ireland's Central Bank has warned that a severe energy shock from the Iran war could push inflation above 4% this year, while the UK government plans to invest £100m to restart a Teesside CO2 plant as a contingency measure.