Market Flux Event
US Releases Final 40 Million Barrel Tranche From Strategic Petroleum Reserve Amid Iran War
Read this in the Market Flux appThe US Energy Department on September 29 offered up to 40 million barrels of crude oil from the Strategic Petroleum Reserve, with bids due October 6. The release represents the final tranche from an original drawdown of approximately 172 million barrels announced back in March, completing that earlier commitment as the country manages energy supplies during the ongoing US-Iran conflict.
The SPR has been drawn down substantially since the Iran war began in February 2026, falling from roughly 415 million barrels to below 285 million barrels, its lowest level since the early 1980s. The move comes as President Trump said the US will win the Iran war "very soon" and predicted gas prices will fall, signaling the administration views the release as part of a broader effort to bring energy costs down.
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Sources
- DeItaoneWELLS FARGO RAISES 2027 OIL TARGETS Wells Fargo raised its 2027 WTI target to $75-$85 and Brent to $80-$90 per barrel, citing persistent supply risks and the need to rebuild depleted inventories. The firm expects oil prices to ease from recent highs but remain elevated through 2027.
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- FirstSquawkUS OFFERS UP TO 40 MILLION BARRELS FROM STRATEGIC OIL RESERVE
- FaststocknewssUS OFFERS UP TO 40 MILLION BARRELS FROM THE STRATEGIC PETROLEUM RESERVE Trump said Monday the US will win the Iran war "very soon" and that gas prices will come tumbling.
- Zerohedge*US OFFERS UP TO 40 MILLION BARRELS FROM STRATEGIC OIL RESERVE
- ReutersUS to release 40 million barrels of crude from Strategic Petroleum Reserve, Energy Department says
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- reuters.comUS to release 40 million barrels of crude from Strategic Petroleum Reserve, Energy Department says
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