President Trump ordered the release of 172 million barrels of oil from the United States’ Strategic Petroleum Reserve on Wednesday, after oil prices rocketed to their highest levels in years amid the U.S.’s war with Iran. The releases will start next week and take about 120 days, Energy Secretary Christopher Wright said Wednesday in a … Read more
Energy Secretary Chris Wright said Sunday that the “period of elevated energy prices” will be temporary, “but it will not be long,” as the Iran war continued into a second week. Oil and gas prices “shouldn’t go much higher than they are here because the world is very well supplied with oil,” Wright said on … Read more
President Trump spoke to the Qatari emir, who emphasized to the president the “need for diplomacy to de-escalate the situation.” The question now is whether the Trump administration can keep global energy moving while this war continues. Imtiaz Tyab reports from Doha. Source link