India, March 11 -- Japanese Prime Minister Sanae Takaichi said on Wednesday the country will start releasing part of its oil reserves as early as on March 16. This comes amid supply disruptions due to the blockade of oil and gas passage Strait of Hormuz over the West Asia conflict.

The prime minister said Japan plans to release 15 days worth of private-sector oil reserves and one month's worth of state oil reserves, reported Reuters.

The US-Israeli strikes on Iran on February 28 sparked an exchange of drones and missiles that has still not ended. Iran and its allies, in retaliation, have blocked the Strait of Hormuz, threatening to hit any ship that passes through it.

Tehran has been retaliating by attacking targets across the oil-rich...