Emergency Oil Release Planned
The United States will release 172 million barrels of oil from its strategic petroleum reserve in an effort to lower global energy prices following supply disruptions linked to the war involving Iran, Israel and the US.
Get the latest headlines in your email 
US energy secretary Chris Wright said the move forms part of a wider coordinated release announced by the International Energy Agency.
The agency said its 32 member countries had collectively agreed to release around 400 million barrels of oil to stabilise markets affected by the conflict.
Release to Begin Next Week
Wright said the US portion of the release will begin next week and is expected to take about 120 days to complete.
The goal is to ease pressure on global supply and help bring down fuel prices, which have surged amid fears of disruptions to Middle East oil exports.
In a statement, Wright accused Iran of “manipulating and threatening the energy security of America and its allies”.
Trump Supports Reserve Use
Earlier in the day, President Donald Trump confirmed that the government planned to draw from the country’s emergency oil reserves.
“We’ll do that, and then we’ll fill it up,” Trump said.
“Right now, we’ll reduce it a little bit, and that brings the prices down.”
Join the discussion? 
Already a member? 
Adapted by ASEAN Now · Source · 11.03 2026