Good morning from the Financial Times. Today is Thursday, March 12th. And this is your FT News Briefing.

Will releasing more oil calm the market? We're about to find out. And investors are turning to

U.S. tech stocks for safety. Yes, you heard that right. Plus, we look at how the Iran war is threatening India's so-called Goldilocks economy.

The Gulf really sits at the center of India's economic network,

and that means if there's instability there, not just on energy supplies,

it can really ripple through the economy.

I'm Mark Filipino, and here's the news you need to start your day.

Thank you. I'm Mark Filipino, and here's the news you need to start your day. The International Energy Agency will launch its biggest release of strategic oil reserves in history.

It hopes to tamp down what it calls challenges in the oil market on a

quote, unprecedented scale. Oil prices have soared since the U.S. and Israel started attacking Iran

nearly two weeks ago. The IEA will unleash 400 million barrels of oil. Now to put that into context,

that's more than double what it released after Russia's full-scale invasion of Ukraine in 2022. The IEA's move comes as the U.S. Development Finance

Corporation announced it pick the insurer Chubb to help lead a coverage plan to reopen the

Strait of Hormuz to global shipping. Chubb will serve as lead underwriter issuing policies

to eligible vessels. This will allow the government

to offer $20 billion in cover on a rolling basis, but that amount could rise.

Investors had been fleeing from tech stocks lately. There was concern that they were forming a bubble and vulnerable to a crash.

But now, kind of weirdly, investors are viewing American tech stocks as a safe haven asset

because they're protected from the turmoil of the war in Iran.

Here to talk more about this head scratcher is the FT's Emily Herbert.

Hey, Emily.

Hey, Mark.

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