The Trump administration is considering releasing additional oil from the Strategic Petroleum Reserve to cool energy prices, as the global market faces pressure from supply disruptions.
Treasury Secretary Scott Bessent said the U.S. may continue to use the Strategic Petroleum Reserve (SPR) to boost short-term supply. At the same time, Washington is also considering allowing Iranian oil currently stored on tankers to enter the market.
An estimated 140 million barrels of Iranian oil are currently sitting on ships offshore, unable to be sold due to previous restrictions. If released, this oil could help offset the supply shortfall within 10 to 14 days.
The move comes as oil prices touched $118 per barrel at one point, while the average U.S. gas price rose to about $3.88 per gallon.
🔍 MARKET CONTEXT
The global energy supply has been severely impacted after shipping through the Strait of Hormuz was disrupted. This area handles about 20% of the world’s oil production, causing the market to react quickly to any changes.
International data shows shipping traffic through the area has dropped below 10% of normal levels in recent weeks.
📊 LIMITATIONS OF THE SOLUTION
However, many experts note that releasing reserve oil is unlikely to have an immediate impact.
Even under favorable conditions, oil from the SPR takes nearly two weeks to reach the market. Additionally, previous releases have only helped reduce gas prices by about 17–42 cents per gallon.
Experts say the decisive factor remains restoring shipping through the Strait of Hormuz, rather than relying solely on reserves.
🌍 GLOBAL RESPONSE
The International Energy Agency has also announced a coordinated plan to release approximately 400 million barrels of oil from member countries’ reserves to stabilize the market.
However, actual effectiveness still depends on developments in the Middle East and the ability to restore the energy supply chain.
