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 are pressuring the Trump administration, with less than two months to go 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 several European countries, accusing them of falling far short of their pledged release volumes and urging all member states to fulfill their commitments. The immediate backdrop to this release is the sharp surge in energy prices—gasoline remains above $4 per gallon, while diesel has breached a record 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 commitment." 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 alliance coordination mechanism amid tightening supply conditions.

US Loans 40 Million Barrels from SPR in Final Share of Global Agreement

Q: The U.S. plans to lend out another 40 million barrels of crude oil from its Strategic Petroleum Reserve to curb fuel prices.

The U.S. government has again deployed its Strategic Petroleum Reserve (SPR) as a policy tool, using administrative measures to intervene in the energy market and lower domestic fuel prices. On Wednesday, the U.S. Department of Energy announced plans to lend up to 40 million barrels of crude oil from the SPR to energy companies. This move extends a prior commitment to release 172 million barrels—approximately 133 million barrels have already been lent out, meaning this round could fully cover the remaining shortfall. Energy Secretary Chris Wright stated that the premium crude oil expected to be returned by companies will total between 35 million and 40 million barrels over the next two years. This lending round aims to stabilize global oil markets, which have remained under sustained pressure since the outbreak of conflict among the U.S., Israel, and Iran on February 28. SPR inventories have now fallen to 349.2 million barrels—the lowest level since August 2023—indicating shrinking reserve capacity and signaling that the use of this policy tool is approaching the upper limit of this round’s commitment. SPR inventory pressure: Reserves fall to a three-year low Crude oil in the SPR is stored in underground salt caverns along the coasts of Texas and Louisiana. According to the latest data, inventory stands at 349.2 million barrels—the lowest since August 2023.

18 hours ago

The US government loaned 40 million barrels of crude oil from its Strategic Petroleum Reserve to major traders under a global IEA agreement to stabilize fuel prices. This final batch aims to strengthen energy security despite record-low reserve levels following geopolitical tensions.

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