Wall Street stocks closed lower on Wednesday after oil prices, which had risen on concerns about Middle East supply disruptions, pulled back following statements from International Energy Agency (IEA) member countries that they were prepared to release more strategic reserves. U.S. government bond yields rose to a 24-year high, as investors worried about the impact of high oil prices on inflation and interest rates. The IEA's executive director stated on Wednesday that member countries are ready to release more oil from reserves if necessary, prioritizing diesel. This follows an agreement by G7 nations last Friday to immediately release 100 million barrels of diesel and crude oil to alleviate global energy supply concerns caused by the U.S.-Iran conflict. The UK Maritime Trade Operations (UKMTO) reported nine tanker attacks in the Strait of Hormuz this month, accounting for half of the total incidents in that waterway and the Gulf region in September.