Trump Highlights Oil Supply Moves, Pledges to Complete Iran Mission
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Trump Touts Oil Release Amid Iran Conflict, Vows to Finish the Job
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CNBC TV18•12-03-2026, 22:10
Trump Touts Oil Release Amid Iran Conflict, Vows to Finish the Job
•President Trump announced massive emergency oil reserve releases by the IEA and US to ease energy prices, vowing to "finish the job" in Iran.
•The IEA approved its largest-ever release of 400 million barrels, while the US plans to release 172 million barrels from its emergency reserves.
•Despite releases, Brent crude jumped above $100 a barrel amid escalating attacks on oil tankers and energy infrastructure in the Middle East.
•The Strait of Hormuz remains effectively closed due to ongoing conflict, with a one-month closure potentially pushing Brent to $105 and three months to $164.
•Attacks continued across the region, including drone strikes on Dubai International Airport, as US and Israel maintain strikes in Iran, leading to over 2,440 deaths.