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Story summary
- President Donald Trump authorized releasing 172 million barrels from the Strategic Petroleum Reserve.
- The reserve fell to 311 million barrels after dropping from 415 million in late March.
- The Energy Department warned extraction hardens below 250 million barrels, though caverns hold 70 million.
- Oil rose above $100 after Houthi attacks on tankers in Bab el-Mandeb, then fell below $100.
- Analysts say oil could hit $124 if straits close because Iran will not reopen Hormuz without U.S. permission.
