Iran war: Trump says he'll tap Strategic Petroleum Reserve to cut energy costs
Entity Intersection Graph
No entity connections available yet for this article.
Original Source
In this article USO CVX XOM OXY Follow your favorite stocks CREATE FREE ACCOUNT The Strategic Petroleum Reserve Bryan Mound storage facility located in Brazoria County, Texas, is one of four sites that make up the country's oil reserve. Str New | Reuters President Donald Trump said Wednesday that he will tap the Strategic Petroleum Reserve to help lower energy costs during the Iran war. "We'll do that, and then we'll fill it up," Trump said in an interview with Cincinnati broadcaster WKRC. "I filled it up once, and I'll fill it up again, but right now, we'll reduce it a little bit, and that brings the prices down," the president said. Trump's comments come after the International Energy Agency agreed Wednesday to release 400 million barrels of oil to address the massive supply disruption caused by the Iran war. It is the largest release of stockpiles in the more than 50-year history of the IEA. The U.S. currently has 415 million barrels of oil in its strategic reserve, about 58% of the authorized capacity of 714 million barrels. This is breaking news. Please refresh for updates. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news. Subscribe to CNBC PRO Subscribe to Investing Club Licensing & Reprints CNBC Councils Select Personal Finance Join the CNBC Panel Closed Captioning Digital Products News Releases Internships Corrections About CNBC Site Map Podcasts Careers Help Contact News Tips Got a confidential news tip? We want to hear from you. Get In Touch CNBC Newsletters Sign up for free newsletters and get more CNBC delivered to your inbox Sign Up Now Get this delivered to your inbox, and more info about our products and services. Advertise With Us Please Contact Us Ad Choices Privacy Policy Your Privacy Choices CA Notice Terms of Service © 2026 Versant Media, LLC. All Rights Reserved. A Versant Media Company. Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financi...
Read full article at source