HONG KONG, March 11 — Asian equities extended gains today while oil stabilised after a report said the International Energy Agency was considering the release of a record amount of its reserves to counter soaring prices.

The crude market has been hit by wild volatility since the United States and Israel began striking Iran at the end of last month, with Tehran retaliating by attacking targets across the oil-rich Gulf and effectively shutting down the crucial Strait of Hormuz.