{"id":11699,"date":"2026-03-12T10:21:57","date_gmt":"2026-03-12T14:21:57","guid":{"rendered":"https:\/\/greatamericanewsdesk.com\/?p=11699"},"modified":"2026-03-12T10:21:58","modified_gmt":"2026-03-12T14:21:58","slug":"trump-signals-oil-reserve-release-amid-iran-conflict-price-hike","status":"publish","type":"post","link":"https:\/\/greatamericanewsdesk.com\/engery\/trump-signals-oil-reserve-release-amid-iran-conflict-price-hike\/njackson\/2026\/03\/","title":{"rendered":"Trump Signals Oil Reserve Release Amid Iran Conflict Price Hike"},"content":{"rendered":"\n<p>President Donald Trump said Wednesday that his administration will tap the U.S. Strategic Petroleum Reserve (SPR) in an effort to stabilize oil prices that have surged since the start of the U.S.-Israeli military operation in Iran.<\/p>\n\n\n\n<p>Oil markets have been volatile since Operation Epic Fury began on Feb. 28, with crude prices briefly climbing close to $120 per barrel earlier this week amid fears that the conflict could disrupt global supply. By Wednesday evening, prices had eased somewhat but remained elevated. Brent crude stood at $93.05 per barrel in after-hours trading, about 1.16% higher than its opening price of $91.98, according to Google Finance.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.youtube.com\/watch?v=O2Z1NJ6CqxU\" target=\"_blank\" rel=\"noreferrer noopener\">Speaking<\/a> to WKRC-TV in Cincinnati during a visit to pharmaceutical and biotechnology company Thermo Fisher Scientific, Trump said the administration would temporarily release oil from the nation\u2019s emergency stockpile to help bring down prices.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cWell, we&#8217;ll do that and then we&#8217;ll fill it up,\u201d Trump said. \u201cI filled it up once and I&#8217;ll fill it up again, but right now we&#8217;ll reduce it a little bit, and that brings the prices down.\u201d<\/p>\n<\/blockquote>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"EXCLUSIVE: President Donald Trump speaks 1-on-1 with Local 12 while in Cincinnati\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/O2Z1NJ6CqxU?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p>The move would mirror actions taken by previous administrations during periods of supply disruption or sharply rising fuel costs.<\/p>\n\n\n\n<p>Earlier Wednesday, the International Energy Agency (IEA) announced that its member countries would collectively release 400 million barrels of oil from emergency reserves, the largest coordinated stockpile release in the organization\u2019s history. The effort is intended to ease global supply concerns following the escalation of fighting in Iran.<\/p>\n\n\n\n<p>The planned release would more than double the IEA\u2019s previous record drawdown, when member countries placed 182 million barrels on the market in 2022 after Russia\u2019s invasion of Ukraine triggered a global energy shock.<\/p>\n\n\n\n<p>The U.S. Strategic Petroleum Reserve \u2014 the world\u2019s largest emergency oil stockpile \u2014 has also been used repeatedly in recent years to offset price spikes. Former President Joe Biden released nearly 300 million barrels during his administration, including about 180 million barrels over six months in 2022 as the Ukraine war drove fuel prices sharply higher.<\/p>\n\n\n\n<p>Those releases reduced the reserve to roughly 350 million barrels, its lowest level since 1983, after Trump ended his first term with the SPR holding about 638 million barrels.<\/p>\n\n\n\n<p>During the COVID-19 pandemic in March 2020, oil prices briefly collapsed amid a global economic slowdown. Trump at the time directed the Energy Department to purchase 77 million barrels to refill the reserve \u201cto the top,\u201d but Congress \u2014 then controlled by Democrats \u2014 blocked funding for the purchase.<\/p>\n\n\n\n<p>Energy Secretary Chris Wright said the new release will begin next week and will take roughly 120 days to deliver to the market.<\/p>\n\n\n\n<p>Although Trump declared a \u201cnational energy emergency\u201d early in 2025 and pledged to replenish the reserve, progress has been slow due to limited congressional funding. The SPR currently holds about 416 million barrels, according to data cited by <em>Fortune<\/em>.<\/p>\n\n\n\n<p>Trump said he expects oil prices to fall as additional supply reaches the market.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cOil prices will be coming down,\u201d he told reporters during the visit. \u201cThat\u2019s just a matter of war, that happens \u2026 you can almost predict it.\u201d<\/p>\n\n\n\n<p>\u201cI would say it went up a little bit less than we thought and it\u2019s going to come down more than anybody understands,\u201d Trump added.<\/p>\n<\/blockquote>\n\n\n\n<p>The Strategic Petroleum Reserve, created after the 1973 oil embargo, is intended to provide emergency supply during major disruptions in global oil markets. Analysts say coordinated releases from the SPR and allied reserves can help calm markets in the short term, though long-term price trends often depend on the duration of geopolitical conflicts and the broader balance between global oil supply and demand.<\/p>\n\n\n\n<div class= \"house-ad\"><center><p class= \"sponsored\">Sponsored<\/p><strong><span style=\" color:#ff0004\" class=\" has-inline-color has-text-align-center\"><a href= \"https:\/\/secure.anedot.com\/tppac\/db-action?source_code=db-tppac-em53-004&#038;utm_campaign=tp260207&#038;utm_medium=revshare&#038;utm_source=db&#038;utm_content=text_link1&#038;exitIntent=true\">Turning Point is funding the largest ballot-chasing operation in U.S. history to win key battleground states. Our grassroots army is already in the field for 2026 and beyond. But they can\u2019t stay there without your support. Donate today to help win the midterms, protect the America First movement, and keep conservatives in power.<\/a><\/span><\/strong><\/center><\/div>\n","protected":false},"excerpt":{"rendered":"<p>President Donald Trump said Wednesday that his administration will tap the U.S. Strategic Petroleum Reserve (SPR) in an effort to stabilize oil prices that have surged since the start of the U.S.-Israeli military operation in Iran. Oil markets have been volatile since Operation Epic Fury began on Feb. 28, with crude prices briefly climbing close [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":11700,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1344,26],"tags":[313,2106,725,1787,401,1484,2096,15],"class_list":["post-11699","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-engery","category-news","tag-energy-department","tag-gas-prices","tag-iran","tag-iran-strikes","tag-news","tag-oil","tag-operation-epic-fury","tag-trump-administration"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Trump Signals Oil Reserve Release Amid Iran Conflict Price Hike - Great America News Desk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/greatamericanewsdesk.com\/engery\/trump-signals-oil-reserve-release-amid-iran-conflict-price-hike\/njackson\/2026\/03\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Trump Signals Oil Reserve Release Amid Iran Conflict Price Hike - Great America News Desk\" \/>\n<meta property=\"og:description\" content=\"President Donald Trump said Wednesday that his administration will tap the U.S. Strategic Petroleum Reserve (SPR) in an effort to stabilize oil prices that have surged since the start of the U.S.-Israeli military operation in Iran. 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