Australia: Australia will release six days' worth of petrol and five days of diesel from its emergency stockpile amid the ongoing conflict involving the US, Israel, and Iran, according to an official announcement. This move marks the first utilization of the country's fuel reserves since the onset of the Russia-Ukraine war in 2022.

According to Anadolu Agency, Energy Minister Chris Bowen explained that the fuel would not be immediately available due to the complexities of supply chains. However, the release is intended to provide fuel retailers with the flexibility needed to manage their supplies. Australia currently maintains a stockpile of 36 days' worth of petrol, 29 days of jet fuel, and 32 days of diesel.

The decision to release the energy stockpile comes as the Middle East conflict continues to disrupt global energy supplies. As part of the International Energy Agency, Australia joins 31 other countries in agreeing to collectively release 400 million barrels of oil. Bowen emphasized the urgency of the situation, describing the conflict as a crisis.

Tensions have escalated following joint attacks by Israel and the US on Iran on February 28, which resulted in over 1,300 fatalities, including the death of then-Supreme Leader Ali Khamenei and over 150 schoolgirls. More than 10,000 individuals have been injured since the onset of the strikes. In response, Tehran has launched drone and missile strikes against Israel, Jordan, Iraq, and several Gulf countries that host US military assets, resulting in eight US service members' deaths.

The conflict has led to the effective closure of the Strait of Hormuz by Iran around March 1. This critical shipping lane, responsible for transporting approximately 20 million barrels of oil daily and about 20% of the global liquefied natural gas trade, has seen a significant surge in oil prices as a result.