The United States is not considering releasing strategic oil reserves

Officials from the US Department of Energy have stated that there has been no discussion on releasing strategic oil reserves. According to reports, the United States has a strategic reserve of approximately 415 million barrels of oil, which is reserved for emergency situations. The market expects that the situation in the Middle East may affect energy supply, and oil prices in the New York market may rise. Iranian media reported that the Strait of Hormuz has been effectively closed.