US Edition
Trump Downplays Tapping Strategic Petroleum Reserve Amid Rising Oil Prices
Trump emphasizes abundant U.S. oil supplies despite a 43-cent weekly rise in gas prices amid Middle East conflict, with the Strategic Petroleum Reserve holding over 415 million barrels.
- President Donald Trump downplayed tapping the Strategic Petroleum Reserve when asked on Air Force One, saying 'Our country has a tremendous amount'.
- Amid the Iran escalation, Brent crude rose 8.5% to $92.69 and U.S. benchmark crude climbed 12.2% to $90.90 on Friday.
- The Strategic Petroleum Reserve can hold more than 700 million barrels and held more than 415 million barrels at the end of last month; officials inject water into salt caverns in Texas and Louisiana to remove oil.
- Americans are paying more at the pump, with gasoline averaging about $3.41 per gallon on Saturday and California nearly $5.08, but refineries pre-buy crude, limiting immediate relief.
- Last week, the Treasury Department allowed India to buy Russian crude until April 4, calling it a 'stop-gap measure', while Trump said he would refill the SPR at the 'appropriate time'.
34 Articles
34 Articles
TVA Nouvelles
Connaissance des ÉnergiesTrump now promises the Americans that the surge in prices caused by the conflict in the Middle East will only be a short and bad time to pass.
Despite rising prices, Trump downplays need to tap Strategic Petroleum Reserve. ‘There’s a lot of oil out there. That’ll get healed very quickly’
By Wyatte Grantham-Philips, Cathy Bussewitz, and The Associated Press Oil prices have soared in the week since the U.S. and Israel launched their war against Iran, but President Donald Trump on Sat…
Rising pump prices draw calls to action from Democrats
As oil prices rise in the wake of U.S. military operations in Iran, Senate Democrats have begun calling for a solution to the increasing costs. Senate Minority Leader Charles E. Schumer, in a Sunday post on X, called on President Donald Trump to draw down oil from the Strategic Petroleum Reserve to slow rising costs. […]
Despite rising prices, Trump downplays need to tap Strategic Petroleum Reserve. 'There’s a lot of oil out there. That’ll get healed very quickly'
The reserve held more than 415 million barrels as of the end of last month, up from about 395 million barrels at this time in 2025.
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