US to release 172 million barrels from the Strategic Petroleum Reserve

Energy Secretary Chris Wright announced a 172 million barrel draw from the US Strategic Petroleum Reserve, the US share of a coordinated 400 million barrel IEA stock release. The Department of Energy said delivery would take about 120 days at planned discharge rates. The release was a response to the Iran war and the near-halt of tanker traffic through the Strait of Hormuz.

• 172 million barrels from the SPR
• Part of a coordinated 400 million barrel IEA release
• Delivery takes about 120 days at planned discharge rates