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Iran war: Trump says he’ll tap Strategic Petroleum Reserve to cut energy costs
The U.S. currently has 415 million barrels of oil in its strategic reserve, about 58% of the authorized capacity of 714 million barrels.
Trump will decide whether U.S. participates in IEA release of oil reserves, Interior Secretary says
The IEA is group of 32 advanced economies primarily in Europe, North America and northeast Asia. The U.S. is a member of the organization.
IEA agrees to release record 400 million barrels of oil to address Iran war supply disruption
The move comes as the Iran war continues to choke off traffic through the strategically vital Strait of Hormuz.