US Releases Oil Reserves Amidst Hormuz Strait Closure Fears – 2026

WASHINGTON DC – The United States government, under President Donald Trump, initiated an abrupt move to authorize a large-scale release from its Strategic Petroleum Reserve, reversing course within hours and surprising allies, according to reports from the Wall Street Journal. The shift came after initial signals from U.S. Energy Secretary Chris Wright to G7 nations that a major intervention was not immediately warranted.

Secretary Wright’s earlier assessment reportedly led to a temporary dip in oil prices, falling below $90 per barrel, and a perceived easing of market tensions. However, less than two hours later, the administration’s position underwent a complete reversal. Sources within the administration attribute the change to a sudden decision by President Trump following counsel from his advisors.

The move coincides with a parallel announcement from the International Energy Agency (IEA) agreeing to release 400 million barrels of oil from the emergency reserves of its 32 member nations. This represents the largest coordinated oil reserve release in history, exceeding the previous record of 182 million barrels deployed in response to Russia’s invasion of Ukraine in 2022, according to reports.

A spokesperson for the U.S. Department of Energy disputed any suggestion of disagreement within the administration, stating, “It is entirely untrue that Wright opposed the reserve release in Tuesday’s IEA meeting. In fact, he actively rallied member nations to support President Trump’s plan.”

White House Press Secretary Karoline Leavitt underscored the urgency of the decision. “President Trump has consistently stated he would utilize the Strategic Petroleum Reserve responsibly when the time was right, and that time is now,” she said.

The rapid shift in policy is largely driven by escalating concerns within the White House regarding the potential closure of the Strait of Hormuz by Iran. This vital waterway, a narrow chokepoint in the Persian Gulf, facilitates approximately one-fifth of the world’s oil supply. The potential disruption to this critical transit route has prompted the administration to take preemptive action.

The decision to release reserves comes as global oil prices have surged, recently exceeding $100 a barrel for the first time since 2022, as reported by CNBC. Meanwhile, a report from Fortune noted that despite Trump’s promise to fill the U.S. Oil reserves “right to the top,” they remain less than 60% full, a year after the pledge.

Recent reports indicate that former President Trump has also considered easing sanctions on Russia as a means to lower oil prices, according to Reuters. This potential policy shift has raised questions about the administration’s broader strategy for energy security.

The administration’s actions follow a statement by Donald Trump, reported by the BBC, that the ongoing conflict was “very complete,” which initially led to a fall in oil and gas prices. However, the subsequent concerns over the Strait of Hormuz appear to have overridden that temporary effect.

As of Wednesday, the U.S. Government has not publicly detailed the specific timeline for the release of oil from the Strategic Petroleum Reserve, nor has it outlined any contingency plans should Iran proceed with threats to close the Strait of Hormuz.