The United States will release 172 million barrels of oil from its Strategic Petroleum Reserve following President Donald Trump's authorization this week, part of a coordinated 400-million-barrel global release by International Energy Agency (IEA) members. The decision comes as Middle East supply disruptions drive gasoline prices to $3.50 per gallon nationwide – a 17% surge since late February 2026.
Energy Secretary Chris Wright confirmed the release will begin next week, with full delivery expected within 120 days. This follows intensified shipping disruptions in the Strait of Hormuz after US-Israeli military operations against Iran triggered retaliatory strikes across regional energy infrastructure. Current crude exports through the vital waterway remain below 10% of pre-conflict levels.
Brent crude prices peaked at $119 per barrel earlier this week before settling at $87.57 on Wednesday. Analysts warn sustained conflict could push US gasoline prices above $4 per gallon. "We've arranged to replace these reserves with 200 million barrels within the next year," Wright stated, addressing long-term energy security concerns.
The IEA-led initiative marks the largest coordinated oil reserve release since 2022, involving all 32 member states. With Kansas now the only US state averaging under $3 per gallon, the White House aims to ease pressure on consumers ahead of the summer travel season.
