Asia-Pacific markets are expected to fall due to volatile oil prices and escalating tensions in the Middle East, despite the U.S. and its allies announcing an emergency release of crude reserves to calm energy markets. The International Energy Agency is planning to release 400 million barrels of oil following the disruption of the Iran war, the largest such action in the organization's history. The announcement comes after President Donald Trump announced he would use the Strategic Petroleum Reserve to keep a lid on energy prices.