France’s Finance Minister said that governments should first have clarity on the duration of the war on Iran before releasing oil reserves.
“We cannot release stocks — which are by nature finite — without having visibility on the duration and intensity of the conflict at this stage,” Roland Lescure told the Financial times.
He indicated that even when the Strait of Hormuz – a critical waterway – is opened, it will take several weeks for oil supplies to reach countries all over the globe.
