U.S. to Release 172 Million SPR Barrels as New Tanker Attacks Drive Oil Higher

The United States will release 172 million barrels of crude oil from the Strategic Petroleum Reserve (SPR) beginning next week as part of a record 400-million-barrel coordinated stock draw agreed by the International Energy Agency (IEA) and its member nations, the U.S. Department of Energy confirmed Wednesday.

The historic emergency release comes as oil markets reel from escalating conflict in the Middle East and a wave of attacks on commercial shipping that has severely disrupted traffic through the Strait of Hormuz, the critical maritime chokepoint that normally carries about 20% of the world’s seaborne oil supply.

Energy Secretary Chris Wright said the drawdown would begin next week and take approximately 120 days to complete based on planned discharge rates.

“Earlier today, 32 member nations of the International Energy Agency unanimously agreed to President Trump’s request to lower energy prices with a coordinated release of 400 million barrels of oil and refined products from their respective reserves,” Wright said in a statement. “As part of this effort, President Trump authorized the Department of Energy to release 172 million barrels from the Strategic Petroleum Reserve.”

The coordinated release represents the largest emergency stock draw in IEA history, surpassing previous collective releases undertaken during the 2011 Libya crisis and the energy market turmoil following Russia’s invasion of Ukraine.

Despite the announcement, oil markets remained volatile as fresh attacks on commercial vessels rattled energy traders. Brent crude briefly surged above $100 per barrel in after-hours trading, while U.S. West Texas Intermediate (WTI) climbed to $94.38, after reports that multiple tankers were struck by projectiles in the Persian Gulf overnight, highlighting the continued risk to oil flows from the region.

Analysts say the pace of the stock release will be critical in determining its market impact. Based on the planned timeline, the U.S. portion alone could average roughly 1.4 million barrels per day over the next four months.

The administration also said it plans to replenish the reserve with approximately 200 million barrels within the next year, which officials say would replace more oil than is being released while maintaining energy security.

“For 47 years, Iran and its terrorist proxies have threatened global energy security,” Wright said. “Under President Trump, those days are coming to an end.”

The Strategic Petroleum Reserve, located in underground salt caverns along the U.S. Gulf Coast, is the world’s largest emergency oil stockpile and has historically been used to stabilize markets during supply disruptions caused by wars, natural disasters, or geopolitical crises.

Whether the massive release can stabilize markets may ultimately depend less on the volume of barrels released—and more on whether commercial shipping can safely resume normal operations through the Strait of Hormuz.

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