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The IEA said Wednesday that its 32 member countries would release 400 million barrels of oil from emergency reserves.
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It comes as Iranian attacks on ships intensify in the crucial Strait of Hormuz waterway.
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With Iran attacking tankers in the Strait of Hormuz, President Trump and several other countries are tapping emergency reserves to bring down oil prices. NBC News' Garrett Haake reports.
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Pressure has intensified on the strait, one of the world's most important shipping lanes, since Israel and the US attacked Iran late last month.
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The move aims to prevent prices from rising further because of the war in the Middle East.
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The International Energy Agency announced that it would carry out its largest-ever release of oil reserves — 400 million barrels.
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