Turkish oil tanker hit in Black Sea; Japan begins massive oil stock release | Video

A Turkish-flagged oil tanker has reportedly been struck in the Black Sea, escalating concerns over maritime security in the vital shipping region. Simultaneously, Japan has initiated a substantial release from its emergency oil reserves, signalling global anxieties over energy supply stability. The reported incident involving the Turkish tanker underscores the persistent and heightened risks to commercial shipping in the Black Sea, primarily due to the ongoing Russia-Ukraine war. This direct threat to vessels can disrupt crucial trade routes, driving up insurance costs and potentially tightening global crude oil supplies from the region. Japan decision to release its reserves, likely in coordination with international partners like the International Energy Agency, reflects a preemptive move to temper volatile oil prices and mitigate potential supply shocks, suggesting a broader concern among major economies about sustained geopolitical risk to energy markets.