US to release 172m barrels from strategic oil reserve amid Iran conflict

The United States will release 172 million barrels of oil from its Strategic Petroleum Reserve starting next week as the conflict with Iran continues to disrupt global energy markets, the US Department of Energy said on Wednesday.

Energy Secretary Chris Wright said the move follows a coordinated decision by members of the International Energy Agency to release emergency reserves in an effort to stabilize oil prices. According to Wright, 32 IEA member nations agreed to release a combined 400 million barrels of oil and refined products to ease pressure on global supply.

The decision comes as the ongoing conflict has disrupted shipping through the Strait of Hormuz, a crucial maritime route that normally carries around 20 million barrels of oil per day, accounting for about one-fifth of global petroleum trade. The disruption has raised concerns about supply shortages and rising energy prices worldwide.

Wright said the action reflects President Donald Trump’s commitment to protecting US energy security through responsible management of the country’s strategic reserves. He also noted that the United States plans to replenish the reserve with about 200 million barrels within the next year, which he said would exceed the amount being released without costing taxpayers.

The Energy Department added that once the release begins, it will take about 120 days to deliver the oil based on planned discharge rates. Officials said the move is intended to help stabilize markets while maintaining strong US energy security.