Clarity needed on Iran war before states tap into oil reserves, French Finance Minister says

France's Finance Minister said that governments should first have clarity on the duration of the war on Iran before releasing oil reserves.

"We cannot release stocks — which are by nature finite — without having visibility on the duration and intensity of the conflict at this stage,"  Roland Lescure told the Financial times.

He indicated that even when the Strait of Hormuz - a critical waterway - is opened, it will take several weeks for oil supplies to reach countries all over the globe.