US energy chief tells CNBC a further SPR oil release is unlikely

U.S. Energy Secretary Chris Wright said the United States is "highly unlikely" to release additional oil from the Strategic Petroleum Reserve amid the war with Iran. That removes a potential near-term source of supply relief, which could support higher Brent/WTI prices and elevate volatility in energy markets—monitor Middle East supply disruptions and SPR inventory updates.

Analysis

U.S. Energy Secretary Chris Wright said the United States is "highly unlikely" to release additional oil from the Strategic Petroleum Reserve amid the war with Iran. That removes a potential near-term source of supply relief, which could support higher Brent/WTI prices and elevate volatility in energy markets—monitor Middle East supply disruptions and SPR inventory updates.