The International Energy Agency (IEA) is contemplating the largest release of its strategic oil reserves in history to curb soaring oil prices driven by the conflict involving the U.S., Israel, and Iran. Officials indicate that the release could surpass the 182 million barrels released by member countries during the 2022 Russia-Ukraine conflict. This proposal was discussed at an emergency meeting of the 32 member countries on Tuesday, with a decision expected on Wednesday. Currently, WTI crude is priced at $83.56 per barrel, down 3.83% for the day, according to Bitget data.