Could the US really release more of its strategic oil reserves?
Desperation, thy name is Scott Bessent
Desperation, thy name is Scott Bessent

Donald Trump has not fulfilled a vow to refill the Strategic Petroleum Reserve that was drained by Joe Biden

Trump administration holding ‘no discussions’ about using stockpiles to soothe energy markets

Plan underlines fears for the global economy from energy shock triggered by the Middle East war

Experts say reopening Strait of Hormuz remains most viable option as ideas such as influencing futures market fade

The global economy will soon be running on fumes

US strategy could be costly in terms of higher electricity prices, increased water stress and potential food insecurity