Japan Starts Release of Oil From Reserves as War Snarls Flows

Japan started releasing oil from the nation’s reserves, as the war in the Middle East threatens the energy security of importers.

The amount of crude refiners must keep in reserve — which forms part of the country’s strategic holdings — will be lowered from March 16 to April 15, the government said in a statement posted in the official gazette on Monday. There will be a temporary formula for calculating the required volume, it said.