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IEA releases record oil reserves to counter Iran war energy shock
US joins unprecedented drawdown that underscores threat to global economy from Middle East war
US to draw down 172mn barrels of oil from SPR as part of global release
400mn barrels of crude made available as governments race to tackle energy shock
US launches new trade probes into a series of countries and the EU
Investigations are precursor to fresh tariffs after previous levies were struck down by the Supreme Court
Trump’s Iran war pushes petrol past $3.50 in test of US voter patience
Administration has failed to douse surge in fuel prices as Middle East turmoil deepens