The International Energy Agency (IEA) has released a record 400 million barrels of crude from emergency oil reserves in response to the war in Iran, marking the largest oil supply disruption in history. The decision was made after dozens of countries agreed to send a record-breaking 400 million barrel of oil into the market to counterbalance the situation. This move is seen as a significant step towards addressing high oil prices, which have been causing high inflation. The only solution is to end the war and reopen the Strait of Hormuz, a critical waterway where Iran has threatened to attack any ship passing through. The International Economic Council of the International Energy Association (IAEA) could release even more emergency oil. However, the release represents only a third of the oil currently in storage and could result in a rise in gas prices. The IEA has said it could release more than 100 million barrels per day, enough to fuel the world for about four days.