SRMED
Englishعربي
Englishعربي
The U.S. Department of Energy announced Friday it has loaned 8.48 million barrels of crude oil from the Strategic Petroleum Reserve to four oil companies[1], marking the second withdrawal from the reserve since the outbreak of conflict in the region. The move is part of the Trump administration's broader effort to stabilize fuel prices, which have surged dramatically amid the U.S.-Israeli war with Iran[1].
The four companies receiving oil from the Strategic Petroleum Reserve are Gulfport U.S.E, Phillips 66 Company, Trafigura Trading, and Macquarie Commodities Trading[1]. The loans are structured so that companies will return the borrowed oil plus additional barrels as a premium, a system the Energy Department says will help stabilize markets without any cost to American taxpayers[2].
These withdrawals occur within the framework of a coordinated international effort. The United States is drawing from its Strategic Petroleum Reserve as part of an agreement with 32 nations in the International Energy Agency to release 400 million barrels of oil from strategic reserves to ease supply pressures caused by the regional conflict[2]. Washington ultimately aims to loan 172 million barrels from its Strategic Petroleum Reserve for delivery throughout this year and into 2027 as part of this International Energy Agency accord[2].
The second tranche of U.S. oil releases follows an initial withdrawal and reflects escalating concerns about energy supply disruptions. The Energy Department has also opened bidding for a third round, offering to loan up to 30 million additional barrels from the West Hackberry site of the Strategic Petroleum Reserve[2]. Meanwhile, other nations are taking parallel action—Japan announced Friday that it plans to release oil reserves sufficient for 20 days of consumption beginning in May, further indicating coordinated global efforts to address market pressures stemming from Middle Eastern tensions[1][2].