Ahmed Kamel – Egypt Daily News
Donald Trump has indicated that the United States could tap its Strategic Petroleum Reserve in an effort to ease surging energy prices triggered by the escalating conflict with Iran.
Speaking Wednesday in an interview with Cincinnati television station WKRC during a visit to the Ohio region, Trump said his administration was prepared to release oil from the reserve to calm markets and bring down fuel costs.
“We’ll do that and then we’ll fill it up,” Trump said. “Right now, we’ll reduce it a little bit and that brings the prices down.”
The remarks came shortly after the International Energy Agency announced a coordinated release of 400 million barrels of oil from strategic reserves held by its member states, the largest emergency release in the agency’s history. The move is aimed at stabilizing global energy markets following the sharp price spike triggered by the war in the Middle East and disruptions to oil shipments in the Strait of Hormuz.
The U.S. Strategic Petroleum Reserve currently holds around 415 million barrels of crude oil, a little more than half of its total storage capacity. The reserve was significantly reduced in recent years after the administration of former president Joe Biden authorized several drawdowns to counter rising gasoline prices.
Among those measures was a record release of 180 million barrels following the Russian invasion of Ukraine, which disrupted global energy markets and contributed to soaring fuel costs worldwide.
Oil prices have surged again amid the ongoing confrontation involving the United States, Israel and Iran, raising fears of supply disruptions from the Persian Gulf region. The threat of restricted shipping through the Strait of Hormuz a key route for roughly one-fifth of the world’s oil supply, has intensified market volatility and pushed crude prices sharply higher in recent weeks.
Rising fuel costs have already begun to weigh on consumers and are emerging as a major political challenge for the White House. Higher gasoline prices are feeding broader concerns about inflation and the cost of living, issues that analysts say could play a decisive role in the upcoming United States midterm elections.
Recent polls show growing public dissatisfaction with the administration’s handling of the economy, placing additional pressure on Trump to take measures aimed at stabilizing energy prices and easing the financial burden on households.
