Latest Oil Market News and Analysis for March 11

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Oil gave up earlier gains and fluctuated near $88 a barrel after the Wall Street Journal reported that the IEA is proposing a record release of reserves to tackle elevated prices triggered by the Iran war.
The release would exceed the 182 million barrels that International Energy Agency members put into the market in 2022 after Russia invaded Ukraine, according to the newspaper. Bloomberg TerminalBrent slipped after climbing as much as 3.7%, while West Texas Intermediate swung near $84, continuing a period of extreme market volatility this week that saw prices punch above $100 on Monday.