US to Release 172 Million Barrels of Oil Amid Rising Middle East Tensions

KATHMANDU – As the escalating conflict in the Middle East triggers volatility in the global energy market, the United States has announced a massive plan to release 172 million barrels of oil from its Strategic Petroleum Reserve (SPR).

The US Department of Energy stated that the release is scheduled to begin next week. The distribution process is expected to span approximately 120 days in an effort to stabilize soaring fuel prices.

Conflict Drives Price Surge

Global oil prices have been on a steady climb since February 28, 2026, following the commencement of US and Israeli airstrikes on Iran. The geopolitical instability has rattled investors and disrupted traditional supply chains.

In a coordinated global response, the International Energy Agency (IEA) has also intervened. The agency announced that its 32 member nations will collectively release 400 million barrels of oil from their emergency reserves to mitigate supply shortages.

Current Market Standing

Despite these aggressive interventions, crude oil prices have yet to see a significant retreat.

• Brent Crude: The international benchmark rose by approximately 4.8%, reaching $91.98 per barrel.

• Impact: Analysts suggest that while the reserve release “buys time,” the sheer volume of the disruption makes a total price correction difficult in the short term.

The “Hormuz Factor”

A major point of concern for the global economy is the rising tension around the Strait of Hormuz. This narrow waterway is the world’s most important oil chokepoint, with approximately 20% of the world’s total oil supply passing through it daily.

Experts warn that any prolonged blockage or military confrontation in this passage could have catastrophic effects on the global economy, potentially driving prices far beyond current levels.