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US Not Planning to Tap Strategic Reserve as Iran War Risks Oil Surge, FT Says

Business & Policy
March 1, 2026

The U.S. is not considering releasing oil from its strategic petroleum reserve in the aftermath of strikes on Iran, the Financial Times reported on Saturday, citing a Department of Energy official familiar with the matter.There have been “no discussions at all about the SPR,” the official told the FT, when questioned about steps the Trump administration had taken to avert a spike in crude oil prices.

Reuters could not immediately verify the report.

(Reporting by Ananya Palyekar in Bengaluru, editing by Deepa Babington)

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