The #Trump administration quickly changed its stance on using emergency oil reserves during tensions with #Iran. After initially telling G7 allies that releasing oil was unnecessary, Trump reversed course within hours due to concerns about marke...
...t volatility and the potential closure of the Strait of Hormuz. Following this, the International Energy Agency approved an unprecedented release of 400 million barrels of oil, with the U.S. share exceeding 100 million barrels, despite its own reserve being only about 60% full.
...t volatility and the potential closure of the Strait of Hormuz. Following this, the International Energy Agency approved an unprecedented release of 400 million barrels of oil, with the U.S. share exceeding 100 million barrels, despite its own reserve being only about 60% full.