Why historic oil reserves release may do little to bring down rising prices

Global oil prices are continuing to surge despite the International Energy Agency’s (IEA) announcement of the largest release of emergency reserves in history.

Futures for Brent crude, the international benchmark, rose about 15 percent after the Paris-based IEA on Wednesday announced plans to release 400 million barrels to stabilise prices amid the fallout of the United States and Israel’s war w...