US authorizes emergency SPR release of up to 400k barrels amid Iran war supply disruption

The US has authorized an emergency release of up to 400,000 barrels from the Strategic Petroleum Reserve, which is at its lowest level since 1982 after prior drawdowns. This follows supply disruptions from the war against Iran, indicating continued strain on global oil markets. The move is a stopgap measure, with uncertainty over the duration and scale of the disruption.

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