2026-03-12 12:02:41
US Energy Secretary: Strait of Hormuz Needs to Reopen, Will Release Strategic Petroleum Reserve to Address Supply Disruptions
Gate News reported that on March 12, U.S. Energy Secretary Wright stated that the Strait of Hormuz (a globally critical oil transportation corridor) needs to be reopened. To address supply disruptions, the United States will release strategic petroleum reserves (SPR), which is expected to sustain supply for several weeks. Wright emphasized that this release of oil reserves will not impose any costs on U.S. taxpayers.