US to release 172m barrels of oil from strategic petroleum reserve
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The United States will release 172 million barrels of oil from its Strategic Petroleum Reserve (SPR) starting next week over a 120-day period. The decision, announced by Energy Secretary Chris Wright, aims to lower rising oil prices attributed to supply disruptions stemming from the US-Israeli war with Iran. This release is part of a larger, coordinated effort by the 32-country International Energy Agency to release a total of 400 million barrels. Wright accused Iran of destabilizing energy security for the US and its allies. Former President Trump indicated support for the move, stating intentions to replenish the reserve in the future.
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