The U.S. releases its final batch of strategic petroleum reserves—up to 40 million barrels—and urges Europe to follow suit.

Soaring fuel prices have placed mounting pressure on the Trump administration, with less than two months remaining before the midterm elections; Washington has once again deployed its strategic reserve card. The U.S. Department of Energy announced it will release up to 40 million barrels of crude oil from the Strategic Petroleum Reserve (SPR). This marks the final batch of the 172 million barrels collectively released by the United States under coordination with the International Energy Agency (IEA) since the outbreak of the Iran war. Meanwhile, Energy Secretary Chris Wright publicly criticized certain European countries, pointing out that their actual releases fell far short of pledged amounts and urging all member states to fulfill their commitments. The immediate impetus for this release is the sharp surge in energy prices—gasoline remains above $4 per gallon, while diesel has breached a historic high of over $6 per gallon. The November midterm elections will determine control of the House of Representatives; persistently high fuel costs are exerting increasingly significant political pressure on the Trump administration. On Tuesday, WTI crude futures fell by 3.95%. Europe’s poor compliance prompts U.S. public pressure In his statement, Chris Wright adopted unusually strong language, directly naming European allies for lagging behind the United States and Japan in this coordinated release effort. He said: "Several European member countries have actually released only a small fraction of the crude oil and petroleum products they pledged. We urge every member country to honor its commitments." This coordinated release is led by the IEA, with participation from member countries including the United States and Japan. The U.S.’s public pressure reflects internal strains within the allied coordination mechanism amid tightening supply conditions.

The International Energy Agency’s sixth coordinated release of petroleum reserves delivers powerful intervention in the global oil market.

As part of this initiative, President Trump authorized the Department of Energy to release 172 million barrels of oil from the Strategic Petroleum Reserve, with releases beginning next week. According to the planned release schedule, this process will take approximately 120 days to complete. President Trump previously pledged to safeguard U.S. energy security through prudent management of the Strategic Petroleum Reserve; this action demonstrates his concrete fulfillment of that commitment. In contrast to the previous administration—which depleted and damaged America’s petroleum reserves—the United States has now planned to replenish these strategic reserves with approximately 200 million barrels over the coming year, exceeding the amount to be drawn down by 20%, and without imposing any cost on taxpayers. For 47 years, Iran and its terrorist proxies have sought to kill Americans and recklessly undermined U.S. and allied energy security. Under President Trump’s leadership, this era is coming to an end. Rest assured: America’s energy security remains as robust and reliable as ever. (II) Department of Energy Launches Emergency Strategic Petroleum Reserve Exchange Program to Stabilize Global Oil Supply The U.S. Department of Energy issued a solicitation notice aiming to withdraw up to 86 million barrels of crude oil from the Strategic Petroleum Reserve—this constitutes the first tranche of the 172-million-barrel exchange program, itself part of the IEA’s collective action to release 400 million barrels of oil. March 13, 2026 Washington, D.C.—Today, the U.S. Department of Energy issued a solicitation for exchanging crude oil from the Strategic Petroleum Reserve, as part of the 172-million-barrel exchange program announced earlier this week. The first solicitation covers 86 million barrels. Under the exchange terms, participating companies must return the borrowed oil plus an additional volume as a premium to the Department of Energy—thereby strengthening the Strategic Petroleum Reserve and stabilizing markets without burdening U.S. taxpayers. Oil deliveries are expected to begin entering the market by the end of next week. These supplies will originate from SPR sites at Bryan Mound, West Hackberry, and Bayou Choctaw. The returned oil will be delivered back to the Department of Energy according to a specified timeline designed to protect commercial markets and American consumers, while ensuring the Reserve remains a vital national security asset. "Today’s action reflects President Trump’s enduring commitment to securing America’s energy security—and his dedication to making constructive contributions toward global market stability," said Kyle Hustedt, Assistant Secretary for the Office of Hydrocarbons and Geothermal Energy. "By participating in this coordinated international supply action, we are working to ensure energy supplies remain stable and reliable during a period of heightened global uncertainty. We will continue closely collaborating with our partners to support a resilient energy system, while preserving the long-term integrity and emergency readiness of the Strategic Petroleum Reserve." This exchange forms part of an internationally coordinated action requested by President Trump. Under this initiative, IEA member countries have agreed to release 400 million barrels of oil from their strategic reserves. This measure comes amid growing disruptions to global oil supply routes—triggered by escalating tensions in the Middle East and attacks carried out by Iran and its proxies—which threaten the reliability of energy shipments through critical maritime corridors.

U.S. Solicits Exchange of Up to 17 Million Barrels of Oil from Strategic Petroleum Reserve

16 hours ago

The U.S. Department of Energy has issued a request for proposals to exchange up to 17 million barrels of crude oil from its Strategic Petroleum Reserve. This move aims to stabilize fuel prices amid geopolitical tensions, following a broader international agreement involving multiple nations.

reuters

2026-06-26

U.S. Issues Order to Keep Colorado Coal Plant Available Through Summer

2026-08-20

Trump Administration to Back US Minerals Projects with $500 Million in Grants

2026-10-16

U.S. Solicits Exchange of Up to 17 Million Barrels of Oil from Strategic Petroleum Reserve

U.S. Solicits Exchange of Up to 17 Million Barrels of Oil from Strategic Petroleum Reserve

FAQ