Japan mulls releasing national oil reserves amid Iran conflict

TOKYO - The Japanese government is considering releasing its national oil reserves to prepare for possible prolonged supply disruptions amid the U.S.-Israeli war with Iran, a source familiar with the matter said Friday.

Japan may release the stockpile on its own rather than as part of a coordinated international effort, according to the source. If realized, it would be the first such move by the resource-scarce nation since the establishment of the national oil stockpiling system in 1978.