Stated by Trump on Air Force One Day 7/3, in the scene of conflict in the last Middle East interrupted the oil transport chain and caused tension for the global energy market.
"There's a lot of oil out there. That will be resolved very quickly," he asserts but does not add details. He at the same time declared the US to have large amounts of oil.
When asked if there was another way to relieve the market tension, such as using the National Reserve of Strategic Oil (SPR), President Trump said "no support" this. He even criticized his predecessor Joe Biden for withdrawing reserves.
Brent oil prices have increased $8.5% to over 92 a barrel. U.S. WTI oil also costs 12%, over 90 dollars. In the United States, the national average gas prices at about $33,41 a gallon (3,78 liters) at 7/3, increased by 43 cents over a week ago, according to the XXX Motors Association.
- President Donald Trump responded to reporters on Air Force One Day 7 March. Image: AP*
The national strategic oil reserve (SPR) is a system of underground salt caves in the state of Texas and Louisiana, which can contain over 700 million barrels of oil, although currently not fully filled. According to the U.S. Department of Energy, by the end of February, the reserve had over 415 million barrels of oil, rising from about 395 million barrels at the same time as 2025.
Reserve was established after the oil embargo of Arab countries in the 1970s, to provide the US with an oil source that could be used in an emergency situation. The Department of Energy's data shows that the amount of oil in the depot once peaked over 15 years ago, at a time beyond 726,6 million barrels.
Earlier, on March 3, Trump stated that the US would provide insurance for oil carriers operating in the Gulf Area, in order to maintain shipping through the Hormuz Channel. However, experts are skeptical of the effectiveness of this effort.
Three days later, US Finance Minister Scott Bessent revealed a new measure, stating that India could purchase crude oil and oil products from Russia to 4/4. Bessent referred to this as "a provisional procedure" to reduce pressure on the market.
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