Trump announces plans to tap the U.S. Strategic Petroleum Reserve to lower rising gasoline prices amid the Iran war.

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The U.S. currently has 415 million barrels of oil in its strategic reserve, about 58% of the authorized capacity of 714 million barrels.

Trump announces plans to tap the U.S. Strategic Petroleum Reserve to lower rising gasoline prices amid the Iran war.

Last week, oil surged past the $100-a-barrel milestone, after recording its largest one-week spike since March 1983

Oil prices have skyrocketed in the days since President Donald Trump's war on Iran began.