US to Release 172 Million Barrels from Strategic Reserve Amid Middle East Tensions

Amid rising conflict in the Middle East and increasing volatility in global oil markets, the United States has announced a plan to release 172 million barrels of oil from its Strategic Petroleum Reserve to stabilize supply.

According to the U.S. Department of Energy, the oil will begin entering the market starting next week, and the distribution process will continue for about 120 days. Global oil prices have been rising steadily since February 28, when the United States and Israel launched airstrikes on Iran.

Meanwhile, the International Energy Agency (IEA) has also decided to release 400 million barrels of oil from the emergency reserves of its 32 member countries to help ease supply disruptions.

However, despite these measures, crude oil prices have not significantly declined. The global benchmark Brent crude has risen by about 4.8 percent, reaching $91.98 per barrel.

At the same time, growing tensions around the Strait of Hormuz have further raised concerns in the global energy market. Since about 20 percent of the world’s oil supply passes through this route, any disruption could have a major impact on the global economy.