US EditionTrump Downplays Tapping Strategic Petroleum Reserve Amid Rising Oil Prices
Trump emphasizes abundant U.S. oil supplies despite a 43-cent weekly rise in gas prices amid Middle East conflict, with the Strategic Petroleum Reserve holding over 415 million barrels.
- President Donald Trump downplayed tapping the Strategic Petroleum Reserve when asked on Air Force One, saying `Our country has a tremendous amount`.
- Amid the Iran escalation, Brent crude rose 8.5% to $92.69 and U.S. benchmark crude climbed 12.2% to $90.90 on Friday.
- The Strategic Petroleum Reserve can hold more than 700 million barrels and held more than 415 million barrels at the end of last month; officials inject water into salt caverns in Texas and Louisiana to remove oil.
- Americans are paying more at the pump, with gasoline averaging about $3.41 per gallon on Saturday and California nearly $5.08, but refineries pre-buy crude, limiting immediate relief.
- Last week, the Treasury Department allowed India to buy Russian crude until April 4, calling it a `stop-gap measure`, while Trump said he would refill the SPR at the 'appropriate time'.
27 Articles
27 Articles
Despite rising prices, Trump downplays need to tap Strategic Petroleum Reserve. 'There’s a lot of oil out there. That’ll get healed very quickly'
Oil prices have soared in the week since the U.S. and Israel launched their war against Iran, but President Donald Trump on Saturday downplayed the idea of turning to America’s Strategic Petroleum Reserve to ease the pressure. Trump was asked by reporters on Air Force One about whether he would consider tapping the reserve. As the war continues to escalate across the Middle East, including in areas critical to the production and movement of oil …
Associated Press News
Oil prices are soaring, but Trump is downplaying the need to tap the Strategic Petroleum Reserve
Oil prices have soared in the week since the U.S. and Israel launched their war against Iran, but President Donald Trump on Saturday downplayed the idea of turning to America’s Strategic Petroleum Reserve to ease the pressure.
Oil prices soar, but Trump downplays need to tap Strategic Petroleum Reserve
Oil prices have soared in the week since the U.S. and Israel launched their war against Iran, but President Donald Trump on Saturday downplayed the idea of turning to America’s Strategic Petroleum Reserve to ease the pressure
Donald Trump stated that it is not concerned about the increase in gas prices, describing the war with Iran as a "short competition" and...
Trump: Iran War Won't Spike Oil Prices Long-Term - Report Wire
Amid the intensifying US-Iran war, President Donald Trump downplayed fears of an oil crisis, assuring ample global supplies from Air Force One. He called price surges temporary, rooted in robust reserves worldwide. The operation, overdue by 47 years, drew Trump’s praise as a courageous move no prior leader dared. Brushing aside economic jitters, he said, ‘Oil prices aren’t worrying me now.’ Short-term volatility is expected but fleeting, he adde…
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