Tokyo, March 16 -- Japan has commenced the release of oil from its private-sector reserves to bolster supply stability as the ongoing conflict with Iran continues to impede maritime traffic in the Middle East, NHK reported.

According to the broadcaster, the volume of fuel currently being released corresponds to "15 days of consumption." Industry data indicates that "oil-related companies in Japan hold reserves equivalent to 70 days."

In addition to these private stocks, the Japanese government maintains an independent emergency reserve and is "expected to release one month of supply later in March." Currently, Japan's total emergency petroleum reserves account for 254 days of national demand, composed of national stockpiles, private sec...