Unreserved

The world’s energy watchdog is breakin' open the piggy bank.

The International Energy Agency, a 32-nation coalition that includes the U.S., agreed Wednesday to release a record 400M barrels of oil from emergency reserves. The move aims to cushion the blow from ongoing disruptions in the Strait of Hormuz after a series of attacks on commercial vessels stifled oil flow to less than 10% of prewar levels (see timelapse here), driving Uncle Sam’s gas prices up ~20%. 

The U.S. reported attacking 16 Iranian mine-laying ships Tuesday, while Tehran claimed responsibility for at least one of three strikes in the channel Wednesday.

The 400 million barrels—about one-third of IEA’s stockpile—equals about 20 days of normal strait traffic. It’s over double the previous record release of 182.7 million barrels after Russia invaded Ukraine in 2022.

CHRISTIAN RESPONSE
Regardless of whether gas prices have felt like a tiny tap or a big blow to your budget, Christians should seek to give generously of our time, talents, and resources to those in greater need. If you feel called, reach out to your local church to see where help is needed.

“Don’t neglect to do what is good and to share, for God is pleased with such sacrifices.”
Hebrews 13:16 (CSB) (read full passage)