The G7's plans to release oil from emergency stockpiles face skepticism as they likely won't calm volatile crude prices amid the Gulf conflict. Finance ministers announced readiness to "take necessary measures" as talks continue, but 20mn barrels daily disruption through the Strait of Hormuz dwarfs previous releases.

Historical context shows only five strategic releases since 1990, none capable of addressing the current scale. Oil prices briefly fell from $119 to below $90 on news of potential release, but experts question effectiveness. Morgan Stanley's global oil strategist noted evidence is "distinctly mixed" on whether reserves actually lower prices.

The IEA's 1.2bn barrel reserves pale against the largest oil shock in history. Asia faces disproportionate impact as it imports most Middle Eastern crude. China shows no sign of releasing its own strategic reserves despite covering over 120 days of imports. Market watchers warn Europe could face jet fuel shortages within weeks if the crisis continues.