Why a historic release of emergency crude reserves might not tame soaring oil prices

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• The IEA agreed on Wednesday to release 400 million barrels of oil from strategic reserves.
• The release is the largest ever, but market pros doubt it will make an impact.
• Some pointed to previous releases of strategic reserves and the minimal relief they provided.

Volatility has battered oil markets in the weeks since the Iran war began, and market pros think a historic plan to calm crude prices is unlikely to work.

Oil prices spiked again on Wednesday...