Japan began releasing crude oil reserves on Monday to counter surging prices and supply disruptions caused by the Middle East conflict. Prime Minister Sanae Takaichi announced a plan to free up roughly 80 million barrels of oil, the nation's largest release ever, representing 45 days of domestic consumption.

The government reduced mandatory private reserve requirements from 70 to 55 days, with state-held stocks scheduled for release later. This proactive measure precedes a wider International Energy Agency (IEA) coordination of 400 million barrels.

With crude prices recently topping $100 per barrel, Japan aims to ensure a smooth energy supply as the closure of the Strait of Hormuz threatens to cut imports significantly from late March.