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Iran war: Trump will release 172 million barrels of oil from Strategic Petroleum Reserve
The U.S. plans a coordinated 172 million barrel release from its Strategic Petroleum Reserve to ease gasoline prices amid supply disruptions caused by the Iran war.
- Tapping the Strategic Petroleum Reserve, the U.S. will release 172 million barrels to help lower prices amid the Iran war, announced Wednesday.
- Amid the Iran war, gasoline prices rose to about $3.58 per gallon, nearly 22% higher than last month when gas averaged about $2.94.
- The SPR currently holds 415 million barrels, about 58% of the 714 million barrels authorized, and the IEA agreed to release 400 million barrels, the largest in its history, with U.S. participation up to President Trump, Burgum said.
- Speaking to CNBC, Burgum added 'whether the U.S. participates is up to President Donald Trump, he'll make the final decision'.
- Refilling the SPR, Trump said 'We'll do that, and then we'll fill it up,' indicating he plans to refill after the release.
121 Articles
121 Articles
US to Tap Oil Reserves Following Trump's '180'
President Trump is cracking open the nation's oil piggy bank, despite opposition to a similar move by President Biden. The Trump administration will release 172 million barrels from the Strategic Petroleum Reserve in a push to cool surging prices tied to the US war with Iran and attacks on tankers...
U.S. to Release 172 Million Barrels of Oil From Strategic Reserves, Energy Dept. Says
U.S. to Release 172 Million Barrels of Oil From Strategic Reserves, Energy Dept. Says - The New York Times The New York Times IEA Will Launch Largest-Ever Oil Release From Global Strategic Reserves WSJ Plans for record emergency oil release signal Middle East war could drag on for months CNBC Can…
US President Donald Trump, in an interview with local television in Cincinnati on Wednesday, said he would do so when asked about releasing the US Strategic Petroleum Reserve. According to Energy Secretary Chris Wright, 172 million barrels will be released initially.
The barrel of oil irons the $100 mark despite the release of stocks.
Trump releases 172 million barrels from strategic reserve to curb fuel price surge
U.S. President Donald Trump has authorized the release of 172 million barrels of crude from the Strategic Petroleum Reserve as part of a coordinated action with the International Energy Agency, in a bid to contain rising fuel prices after market disruption caused by the war with Iran. The Department of Energy said deliveries will begin next week and will take about 120 days to complete.
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