Story perspectives

U.S. Holds Steady on Strategic Petroleum Reserve Amid Price Surge

3/3/2026

Summary

Story summary

On March 2, 2026, reports stated that the U.S. has no plans to sell oil from the Strategic Petroleum Reserve (SPR), which contains 415.4 million barrels.
Analysts noted that rising oil prices from U.S.-Israeli attacks on Iran could prompt a policy reconsideration.
Historical releases include 180 million barrels by President Joe Biden during the Russia-Ukraine conflict and 34 million barrels by President George H.W. Bush during Operation Desert Storm.
The SPR has a total capacity of 714 million barrels, primarily consisting of sour crude.

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Story summary

On March 2, 2026, reports stated that the U.S. has no plans to sell oil from the Strategic Petroleum Reserve (SPR), which contains 415.4 million barrels.
Analysts noted that rising oil prices from U.S.-Israeli attacks on Iran could prompt a policy reconsideration.
Historical releases include 180 million barrels by President Joe Biden during the Russia-Ukraine conflict and 34 million barrels by President George H.W. Bush during Operation Desert Storm.
The SPR has a total capacity of 714 million barrels, primarily consisting of sour crude.