US to Release 172 Million Barrels of Oil from Strategic Reserve

Entertainment National Sports Markets Business & Economy Lifestyle World Astrology & Religion Technology Education & Jobs Auto Politics Viral Opinions

Loading more articles...

US Taps Strategic Reserve: 172 Million Barrels Released to Combat Soaring Oil Prices

President Donald Trump promised that 2026 would bring rapid economic growth in the United States. But recent data on jobs, fuel prices and financial markets paints a more complicated picture, according to an analysis by the Associated Press. Less than two weeks ago, during his State of the Union address, Trump declared that the “roaring economy is roaring like never before.” However, a series of economic indicators released since then highlight areas of concern even as the White House argues that stronger growth is still ahead. Here are six key data points shaping the debate about the US economy in 2026. (Image: Reuters)

C

CNBC TV18•12-03-2026, 05:02

US Taps Strategic Reserve: 172 Million Barrels Released to Combat Soaring Oil Prices

•US President Donald Trump announced the release of 172 million barrels from the Strategic Petroleum Reserve (SPR).
•The move aims to lower high energy prices, exacerbated by the ongoing war with Iran and supply shortages.
•US Energy Secretary Chris Wright confirmed the decision, following the IEA's announcement to release 400 million barrels from its reserves.
•Crude oil prices are soaring, with US Crude and Brent trading above $90 per barrel; US gasoline prices are up 22% from last month.
•The SPR currently holds 415 million barrels, 58% of its 714 million barrel capacity.

Read Full Article on Cnbc in English

✦

More like this

✦

More like this

Iran-US war disrupts the supply of crude oil and gas as tankers passing through the Strait of Hormuz have almost frozen

Brent Oil Dips Below $90 as IEA Proposes Record Reserve Release

Iran war drives up oil prices to $100 a barrel. File/Reuters

Oil Nears $100: Hormuz Attacks Ignite Market Fears Despite IEA Reserve Release

ट्रंप ने एक सोशल मीडिया पोस्ट में कहा कि अगर डील पर सहमति नहीं बनती है तो यह ईरान के लिए "बहुत बुरा दिन" होगा, और उन खबरों को खारिज कर दिया जिनमें पेंटागन को चिंता थी कि एक लंबा मिलिट्री अभियान मुश्किल साबित हो सकता है।

Crude Prices Stabilize Amid US-Iran De-escalation Hopes, Brent Above $71

Oil prices have surged since February 28, when the United States and Israel launched air strikes on Iran that killed its supreme leader and plunged the Middle East into conflict.

US to release 172M barrels from oil reserve as Middle East war jolts markets

Crude Oil Surges: Iran Crisis Fuels Price Hike, Domestic Market Pressure Looms

Crude Oil Surges: Iran Crisis Fuels Price Hike, Domestic Market Pressure Looms

Representational image (Image: News18)

Rupee Surges 21 Paise to 90.73 Against US Dollar Amid Falling Oil Prices