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Trump's Missed Chance: How US Vulnerability to Oil Shock Increased Amid Iran Conflict
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Trump's Missed Opportunity: US Vulnerable to Oil Shock Amid Iran Conflict
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Moneycontrol
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06-03-2026, 14:07
Trump's Missed Opportunity: US Vulnerable to Oil Shock Amid Iran Conflict
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US Strategic Petroleum Reserve (SPR) remains critically low, exposing the nation to an oil price shock amidst escalating Iran conflict.
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Former President Trump failed to replenish the SPR despite a promise, after President Biden significantly drew it down to curb fuel prices.
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The SPR holds 415 million barrels, enough for 20 days, far below its 714 million-barrel capacity.
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Experts warn of prolonged supply constrictions and higher prices if the Strait of Hormuz is affected, making refilling difficult and costly.
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US oil prices surged 16% and petrol prices rose 9% to $3.25/gallon following recent attacks on Iran.
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