Trump's Missed Chance: How US Vulnerability to Oil Shock Increased Amid Iran Conflict

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Trump's Missed Opportunity: US Vulnerable to Oil Shock Amid Iran Conflict

File: An aerial view of the Strategic Petroleum Reserve storage at the Bryan Mound site in Texas (AFP)

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Moneycontrol•06-03-2026, 14:07

Trump's Missed Opportunity: US Vulnerable to Oil Shock Amid Iran Conflict

•US Strategic Petroleum Reserve (SPR) remains critically low, exposing the nation to an oil price shock amidst escalating Iran conflict.
•Former President Trump failed to replenish the SPR despite a promise, after President Biden significantly drew it down to curb fuel prices.
•The SPR holds 415 million barrels, enough for 20 days, far below its 714 million-barrel capacity.
•Experts warn of prolonged supply constrictions and higher prices if the Strait of Hormuz is affected, making refilling difficult and costly.
•US oil prices surged 16% and petrol prices rose 9% to $3.25/gallon following recent attacks on Iran.

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