Overview
- The Energy Department says deliveries from the Strategic Petroleum Reserve begin next week and will roll out over 120 days, leaving about 243 million barrels in storage.
- The action is part of a roughly 400 million‑barrel coordinated release by International Energy Agency members, which the IEA estimates would cover only three to four weeks of lost Gulf-region flows.
- Brent crude hovered near $100 a barrel Friday after earlier spikes, while AAA reports the U.S. average gasoline price around $3.63 a gallon, up sharply since late February.
- Republicans who criticized prior drawdowns largely backed President Trump’s decision after initial hesitation, as Democrats cautioned it will do little to shield consumers from higher pump prices.
- Energy Secretary Chris Wright pledged to acquire approximately 200 million barrels to refill within a year, with lawmakers pressing for details given SPR capacity concerns and reported cavern damage.