> Something interesting happened after Iran closed the Strait of Hormuz yesterday

The rest of the world stepped into the leadership spot vacated by the US.

First, Japan and South Korea moved first by instituting oil price controls.

Then Japan said it would be releasing a bunch of oil from the Japanese SPR.

Then South Korea did the same thing.

Then the IEA countries (except the US) made a joint announcement that they would all be releasing from their respective SPRs.

All of the above activities happened at around 10am this morning without US involvement. The US was forced into reactive mode and didn't put out a statement in support of the IEA actions for several hours. Then at about 5pm this afternoon, the US put out another statement saying that the US would also be releasing a bunch of oil from its own SPR. The US was clearly following the rest of the world's lead.

https://apnews.com/live/iran-war-israel … 4be03d0000