Trump Signals SPR Release as Oil Prices Rise

President Trump said the United States will release crude from the Strategic Petroleum Reserve to help lower oil prices, but he did not specify the amount or timing; the move comes as the IEA coordinates a historic 400‑million‑barrel release and prices spike amid tensions in the Strait of Hormuz, with the SPR holding about 415 million barrels and not currently at full capacity. It is unclear whether this action is part of the IEA plan or a separate move.