Japan Taps Second Batch of Strategic Oil Reserves

(MENAFN) Japan moved Thursday to release a second tranche of its strategic petroleum reserves, as escalating hostilities across the Middle East continue to threaten the flow of energy through one of the world’s most critical shipping corridors.

The decision underscores Japan’s acute vulnerability — roughly 90% of its energy imports originate from Gulf nations and transit the Strait of Hormuz, a waterway now operating under severe strain following recent airstrikes launched by the US and Israel against Iran.

Citing a news agency, Tokyo is unlocking reserves equivalent to approximately 30 days of domestic consumption — around 8.5 million kiloliters — with the full release expected to be completed before the end of April.

The move follows a similar action taken just last week, when Japan freed up private-sector reserves amounting to roughly 15 days of supply, marking Thursday’s release as the country’s second such intervention within days, according to the report.

Meanwhile, Iran indicated it would permit uninterrupted transit through the Strait of Hormuz for nations it characterized as “friendly,” citing China, Russia, India, Iraq, and Pakistan among those granted passage. The signal came through a statement attributed to Iranian Foreign Minister Abbas Araghchi, shared by Iran’s diplomatic mission in the Indian financial hub of Mumbai via X, the US-based social media platform.

The dual developments highlight mounting pressure on energy-dependent economies as the Middle East conflict reshapes global supply chains and raises the stakes over Hormuz — a narrow chokepoint through which a significant share of the world’s oil flows daily.

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