Trump Says US to Tap Strategic Oil Reserve ‘A Little Bit’

President Donald Trump said Wednesday that the United States would tap its strategic oil reserves “a little,” after the International Energy Agency said member countries would unlock supplies amid the Iran war.

“Right now we’ll reduce it a little bit and that brings the prices down,” Trump said in Cincinnati, Ohio, when asked if he was going to tap the US Strategic Petroleum Reserve.

Similarly, the United States Department of Energy said it will release 172 million barrels from the strategic petroleum reserve “beginning next week,” as the Middle East war disrupted oil prices. Oil prices surged more than nine percent Thursday to break back above $100 a barrel. (AFP)