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U.S. to Release 172 Million Barrels Amid Price Surge

3/12/2026

32 7 Full Breakdown

Summary

Story summary

The United States will release 172 million barrels from the Strategic Petroleum Reserve to address rising energy prices amid the Iran war.
This release is part of the International Energy Agency's plan to release 400 million barrels from member nations.
The release begins next week.
It will take 120 days to complete.
U.S. President Donald Trump stated the action aims to stabilize prices, which have surged to $3.58 per gallon.

History

Historical Context

Established in 1975 following the 1973 oil crisis, the U.S. Strategic Petroleum Reserve (SPR) was designed to hold up to 750 million barrels to counteract supply disruptions. As of 2023, the U.S. plans to release 172 million barrels to address rising prices, currently averaging $3.58 per gallon, reflecting ongoing volatility in global oil markets and energy security challenges.

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Story summary

The United States will release 172 million barrels from the Strategic Petroleum Reserve to address rising energy prices amid the Iran war.
This release is part of the International Energy Agency's plan to release 400 million barrels from member nations.
The release begins next week.
It will take 120 days to complete.
U.S. President Donald Trump stated the action aims to stabilize prices, which have surged to $3.58 per gallon.

1 / 2