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Japan: Long Lines Form at Gas Stations Ahead of Price Hike

Long lines of vehicles formed at gas stations across Japan on Wednesday, March 11, as drivers rushed to fill up before an expected sharp rise in fuel prices. Major oil wholesalers announced plans to raise gasoline wholesale prices by an average of 26 yen per liter starting March 12, prompting a surge in last-minute refueling.

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Japan to release government-held oil reserves

Prime Minister Sanae Takaichi meets the press at her official residence in Tokyo on March 11, 2026, announcing that Japan would release 15 days' worth of reserves held by the private sector and then one month's worth of government-held oil in response to surging crude oil prices triggered by the ongoing conflict in the Middle East. The announcement was made hours before International Energy Agency member countries unanimously agreed on the largest-ever oil stockpile release.

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Japan to release government-held oil reserves

Prime Minister Sanae Takaichi meets the press at her official residence in Tokyo on March 11, 2026, announcing that Japan would release 15 days' worth of reserves held by the private sector and then one month's worth of government-held oil in response to surging crude oil prices triggered by the ongoing conflict in the Middle East. The announcement was made hours before International Energy Agency member countries unanimously agreed on the largest-ever oil stockpile release.

E

Japan to release government-held oil reserves

Prime Minister Sanae Takaichi meets the press at her official residence in Tokyo on March 11, 2026, announcing that Japan would release 15 days' worth of reserves held by the private sector and then one month's worth of government-held oil in response to surging crude oil prices triggered by the ongoing conflict in the Middle East. The announcement was made hours before International Energy Agency member countries unanimously agreed on the largest-ever oil stockpile release.

E

Japan to release government-held oil reserves

Prime Minister Sanae Takaichi meets the press at her official residence in Tokyo on March 11, 2026, announcing that Japan would release 15 days' worth of reserves held by the private sector and then one month's worth of government-held oil in response to surging crude oil prices triggered by the ongoing conflict in the Middle East. The announcement was made hours before International Energy Agency member countries unanimously agreed on the largest-ever oil stockpile release.

E

Japan to release government-held oil reserves

Prime Minister Sanae Takaichi meets the press at her official residence in Tokyo on March 11, 2026, announcing that Japan would release one month's worth of government-held oil in response to surging crude oil prices triggered by the ongoing conflict in the Middle East. The announcement was made hours before International Energy Agency member countries unanimously agreed on the largest-ever oil stockpile release.

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Japan Finance Minister Katayama meets press after G7 talks

Japanese Finance Minister Satsuki Katayama speaks at a press conference at the Finance Ministry on March 9, 2026, after an online meeting of Group of Seven finance ministers. The ministers discussed a possible coordinated release of oil reserves amid the U.S.-Israeli war with Iran.

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Tokyo stocks plunge

A financial monitor in Tokyo on March 9, 2026, shows the 225-issue Nikkei Stock Average closing down over 2,800 points at 52,728.72, the third-largest point drop, as crude oil futures spiked amid an escalating conflict in the Middle East.

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Tokyo stocks plunge

A financial monitor in Tokyo on March 9, 2026, shows the 225-issue Nikkei Stock Average closing down over 2,800 points at 52,728.72, the third-largest point drop, as crude oil futures spiked amid an escalating conflict in the Middle East.

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Tokyo stocks plunge

A financial monitor in Tokyo on March 9, 2026, shows the 225-issue Nikkei Stock Average closing down over 2,800 points at 52,728.72, the third-largest point drop, as crude oil futures spiked amid an escalating conflict in the Middle East.

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Tokyo stocks plunge

A financial monitor in Tokyo on March 9, 2026, shows the 225-issue Nikkei Stock Average sinking over 4,200 points during the morning trading session on inflation concerns as crude oil futures surged to more than $100 per barrel.

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Tokyo stocks plunge

A financial monitor in Tokyo on March 9, 2026, shows the 225-issue Nikkei Stock Average sinking over 4,200 points during the morning trading session on inflation concerns as crude oil futures surged to more than $100 per barrel.

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US: Rising Temperatures Trigger Ice Jam Flood Risk in Pennsylvania

Rising temperatures have triggered ice jams on creeks in Venango County, Pennsylvania and nearby areas, causing elevated water levels and flooding concerns. In Oil City, Oil Creek is nearing overflow, flooding several businesses and prompting officials to prepare for possible evacuations. A flood watch and warning remain in effect through Friday, with thick ice and a released ice jam expected to worsen flooding in Oil City and Rouseville. Residents are urged to stay alert and ready to act.

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Illustration - Venezuela

An oil tanker that has been docked here for several days is seen in Lecheria, Anzoategui, Venezuela, January 10, 2026. Photo by Lucio Tavora/Xinhua/ABACAPRESS.COM

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Illustration - Venezuela

Several oil tankers that have been docked here for several days are seen in Lecheria, Anzoategui, Venezuela, January 10, 2026. Photo by Lucio Tavora/Xinhua/ABACAPRESS.COM

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Illustration - Venezuela

(260110) -- ANZOATEQUI, January 10, 2026 (Xinhua) -- An oil tanker which has been berthed here for several days is seen in Lancheria, Anzoatequi, Venezuela, January 9, 2026. The U.S. military seized the fifth oil tanker allegedly linked to Venezuela early Friday morning. Photo by Lucio Tavora/Xinhua/ABACAPRESS.COM

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Illustration - Venezuela

An oil tanker that has been docked here for several days is seen in Lecheria, Anzoategui, Venezuela, January 10, 2026. Photo by Lucio Tavora/Xinhua/ABACAPRESS.COM

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President Trump Meets With Oil and Gas Executives in Washington, DC

CEO of ConocoPhillips Ryan Lance speaks during a meeting with President Donald Trump and gas executives in the East Room of the White House in Washington, DC on Friday, January 9, 2026. Photo by Bonnie Cash/Pool/ABACAPRESS.COM

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President Trump Meets With Oil and Gas Executives in Washington, DC

Vice Chairman of Chevron Mark Nelson speaks during a meeting with President Donald Trump and oil and gas executives in the East Room of the White House in Washington, DC on Friday, January 9, 2026. Photo by Bonnie Cash/Pool/ABACAPRESS.COM

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President Trump Meets With Oil and Gas Executives in Washington, DC

CEO of ExxonMobil Darern Woods speaks during a meeting with President Donald Trump and oil and gas executives in the East Room of the White House in Washington, DC on Friday, January 9, 2026. Photo by Bonnie Cash/Pool/ABACAPRESS.COM

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President Trump Meets With Oil and Gas Executives in Washington, DC

Secretary of State Marco Rubio looks on as President Donald Trump speaks during a meeting with oil and gas executives in the East Room of the White House in Washington, DC on Friday, January 9, 2026. Photo by Bonnie Cash/Pool/ABACAPRESS.COM

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President Trump Meets With Oil and Gas Executives in Washington, DC

Energy Secretary Christopher Wright speaks during a meeting with President Donald Trump and oil and gas executives in the East Room of the White House in Washington, DC on Friday, January 9, 2026. Photo by Bonnie Cash/Pool/ABACAPRESS.COM

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President Trump Meets With Oil and Gas Executives in Washington, DC

Secretary of State Marco Rubio and White House Chief of Staff Susie Wiles look on as Energy Secretary Christopher Wright speaks during a meeting with President Donald Trump and oil and gas executives in the East Room of the White House in Washington, DC on Friday, January 9, 2026. Photo by Bonnie Cash/Pool/ABACAPRESS.COM

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President Trump Meets With Oil and Gas Executives in Washington, DC

CEO of ExxonMobil Darern Woods speaks during a meeting with President Donald Trump and oil and gas executives in the East Room of the White House in Washington, DC on Friday, January 9, 2026. Photo by Bonnie Cash/Pool/ABACAPRESS.COM

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President Trump Meets With Oil and Gas Executives in Washington, DC

Interior Secretary Doug Burgum speaks during a meeting with President Donald Trump and oil and gas executives in the East Room of the White House in Washington, DC on Friday, January 9, 2026. Photo by Bonnie Cash/Pool/ABACAPRESS.COM

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President Trump Meets With Oil and Gas Executives in Washington, DC

President Donald Trump speaks during a meeting with oil and gas executives in the East Room of the White House in Washington, DC on Friday, January 9, 2026. Photo by Bonnie Cash/Pool/ABACAPRESS.COM

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President Trump Meets With Oil and Gas Executives in Washington, DC

President Donald Trump looks on during a meeting with oil and gas executives in the East Room of the White House in Washington, DC on Friday, January 9, 2026. Photo by Bonnie Cash/Pool/ABACAPRESS.COM

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President Trump Meets With Oil and Gas Executives in Washington, DC

Interior Secretary Doug Burgum, Vice President JD Vance and President Donald Trump attend a meeting with oil and gas executives in the East Room of the White House in Washington, DC on Friday, January 9, 2026. Photo by Bonnie Cash/Pool/ABACAPRESS.COM

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President Trump Meets With Oil and Gas Executives in Washington, DC

Vice President JD Vance looks on as President Donald Trump speaks during a meeting with oil and gas executives in the East Room of the White House in Washington, DC on Friday, January 9, 2026. Photo by Bonnie Cash/Pool/ABACAPRESS.COM

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President Trump Meets With Oil and Gas Executives in Washington, DC

Vice President JD Vance speaks during a meeting with oil and gas executives in the East Room of the White House in Washington, DC on Friday, January 9, 2026. Photo by Bonnie Cash/Pool/ABACAPRESS.COM

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President Trump Meets With Oil and Gas Executives in Washington, DC

Interior Secretary Doug Burgum and Vice President JD Vance speak before a meeting with President Donald Trump and oil and gas executives in the East Room of the White House in Washington, DC on Friday, January 9, 2026. Photo by Bonnie Cash/Pool/ABACAPRESS.COM

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President Trump Meets With Oil and Gas Executives in Washington, DC

Interior Secretary Doug Burgum looks on as Vice President JD Vance speaks during a meeting with oil and gas executives in the East Room of the White House in Washington, DC on Friday, January 9, 2026. Photo by Bonnie Cash/Pool/ABACAPRESS.COM

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President Trump Meets With Oil and Gas Executives in Washington, DC

President Donald Trump speaks during a meeting with oil and gas executives in the East Room of the White House in Washington, DC on Friday, January 9, 2026. Photo by Bonnie Cash/Pool/ABACAPRESS.COM

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President Trump Meets With Oil and Gas Executives in Washington, DC

Interior Secretary Doug Burgum and Vice President JD Vance speak before a meeting with President Donald Trump and oil and gas executives in the East Room of the White House in Washington, DC on Friday, January 9, 2026. Photo by Bonnie Cash/Pool/ABACAPRESS.COM

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President Trump Meets With Oil and Gas Executives in Washington, DC

Interior Secretary Doug Burgum looks on as Vice President JD Vance speaks during a meeting with oil and gas executives in the East Room of the White House in Washington, DC on Friday, January 9, 2026. Photo by Bonnie Cash/Pool/ABACAPRESS.COM

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President Trump Meets With Oil and Gas Executives in Washington, DC

President Donald Trump speaks during a meeting with oil and gas executives in the East Room of the White House in Washington, DC on Friday, January 9, 2026. Photo by Bonnie Cash/Pool/ABACAPRESS.COM

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President Trump Meets With Oil and Gas Executives in Washington, DC

Vice President JD Vance smiles as President Donald Trump speaks during a meeting with oil and gas executives in the East Room of the White House in Washington, DC on Friday, January 9, 2026. Photo by Bonnie Cash/Pool/ABACAPRESS.COM

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President Trump Meets With Oil and Gas Executives in Washington, DC

Secretary of State Marco Rubio speaks during a meeting with oil and gas executives in the East Room of the White House in Washington, DC on Friday, January 9, 2026. Photo by Bonnie Cash/Pool/ABACAPRESS.COM

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President Trump Meets With Oil and Gas Executives in Washington, DC

President Donald Trump speaks during a meeting with oil and gas executives in the East Room of the White House in Washington, DC on Friday, January 9, 2026. Photo by Bonnie Cash/Pool/ABACAPRESS.COM

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President Trump Meets With Oil and Gas Executives in Washington, DC

President Donald Trump looks at the White House Ballroom construction during a meeting with oil and gas executives in the East Room of the White House in Washington, DC on Friday, January 9, 2026. Photo by Bonnie Cash/Pool/ABACAPRESS.COM

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President Trump Meets With Oil and Gas Executives in Washington, DC

President Donald Trump looks at the White House Ballroom construction during a meeting with oil and gas executives in the East Room of the White House in Washington, DC on Friday, January 9, 2026. Photo by Bonnie Cash/Pool/ABACAPRESS.COM

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President Trump Meets With Oil and Gas Executives in Washington, DC

Secretary of State Marco Rubio, Interior Secretary Doug Burgum and Vice President JD Vance look at the White House Ballroom construction before a meeting with oil and gas executives in the East Room of the White House in Washington, DC on Friday, January 9, 2026. Photo by Bonnie Cash/Pool/ABACAPRESS.COM

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President Trump Meets With Oil and Gas Executives in Washington, DC

President Donald Trump speaks during a meeting with oil and gas executives in the East Room of the White House in Washington, DC on Friday, January 9, 2026. Photo by Bonnie Cash/Pool/ABACAPRESS.COM

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President Trump Meets With Oil and Gas Executives in Washington, DC

President Donald Trump wears a “Happy Trump” pin during a meeting with oil and gas executives in the East Room of the White House in Washington, DC on Friday, January 9, 2026. Photo by Bonnie Cash/Pool/ABACAPRESS.COM

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President Trump Meets With Oil and Gas Executives in Washington, DC

President Donald Trump speaks during a meeting with oil and gas executives in the East Room of the White House in Washington, DC on Friday, January 9, 2026. Photo by Bonnie Cash/Pool/ABACAPRESS.COM

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President Trump Meets With Oil and Gas Executives in Washington, DC

President Donald Trump shows off his “Happy Trump” pin during a meeting with oil and gas executives in the East Room of the White House in Washington, DC on Friday, January 9, 2026. Photo by Bonnie Cash/Pool/ABACAPRESS.COM

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President Trump Meets With Oil and Gas Executives in Washington, DC

Secretary of State Marco Rubio looks on as President Donald Trump speaks during a meeting with oil and gas executives in the East Room of the White House in Washington, DC on Friday, January 9, 2026. Photo by Bonnie Cash/Pool/ABACAPRESS.COM

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President Trump Meets With Oil and Gas Executives in Washington, DC

Vice President JD Vance looks on as President Donald Trump speaks during a meeting with oil and gas executives in the East Room of the White House in Washington, DC on Friday, January 9, 2026. Photo by Bonnie Cash/Pool/ABACAPRESS.COM

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US President Donald Trump mets with oil executives in the East Room

US President Donald Trump (L) with US Secretary of State Marco Rubio (C), US Secretary of Energy Chris Wright (2-R) and White House Chief of Staff Susie Wiles (R) during a meeting with oil and gas executives in the East Room of the White House in Washington, DC, USA, 09 January 2026. The meeting included executives from Exxon, Shell, Chevron and Conoco. Trump is hoping to persuade oil executives to return to Venezuela. EPA/JIM LO SCALZO/ POOL

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US President Donald Trump mets with oil executives in the East Room

US President Donald Trump during a meeting with oil and gas executives in the East Room of the White House in Washington, DC, USA, 09 January 2026. The meeting included executives from Exxon, Shell, Chevron and Conoco. Trump is hoping to persuade oil executives to return to Venezuela. EPA/JIM LO SCALZO/ POOL