FxCrypto

🚨 JUST IN: US AUTHORIZES 172M BARREL SPR RELEASE!
The Move: The Trump admin has officially greenlit the release of 172 million barrels from the Strategic Petroleum Reserve (SPR).
🌍 Global Coordination: Energy Sec. Chris Wright states this drawdown starts next week. It is part of a massive 400M-barrel global IEA initiative designed to combat the Iran war price surge.
💰 The Reload: The US plans to eventually replace over 200M barrels "at no cost to taxpayers."
🗣️ Geopolitical Context: Amidst this, Trump has made confident remarks regarding Iran: "We've won in many ways" and the war is "very complete, pretty much."
📈 Market Reaction: Despite the huge supply injection, WTI crude is still trading sharply higher today, hovering around $93 - $94.
👇 Thoughts on this move? Will this coordinated release actually be enough to cool down oil prices?
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#oil