The ongoing Iran conflict has prompted United States President Donald Trump to announce that his administration will tap into the Strategic Petroleum Reserve in a bid to cool soaring fuel prices. Speaking to WKRC Local 12, Trump confirmed that the release of crude from the emergency reserve would be followed by replenishment at a later stage. He refrained from specifying the volume of oil that would be released. Trump also recalled how he had earlier criticised former President Joe Biden for using the reserve to ease fuel prices.
Global oil release plan
Trump further revealed that the International Energy Agency (IEA) had agreed to coordinate the release of 400 million barrels of oil from petroleum reserves across several countries. Addressing a gathering, he said, "I am pleased to report that the International Energy Agency agreed to coordinate the release of a record 400 million barrels of oil from various national petroleum reserves around the world, which will substantially reduce the oil prices, as we end this threat to America and this threat to the world". He added that the plan was intended to stabilise global energy supplies while the United States continues its military missions linked to the conflict. "My administration is also working to keep the oil flowing all over," he said.
Trump claims major attacks on Iran Navy
In a striking revelation, Trump asserted that US forces had launched heavy attacks on Iranian naval units in the Gulf region to prevent disruptions in maritime shipping. "We have knocked out 58 naval ships. We knocked out their navy," he said. He also claimed that American forces destroyed 31 mine-laying vessels that Iran allegedly deployed to threaten commercial routes. "They also knocked out the mine layers. They put mines in the water... Lovely job... We knocked out 31 of them," he stated.
Special weapons and ongoing operations
Trump said that the US military had recently used advanced systems that had been earlier deployed against maritime drug trafficking networks. "I said, 'Why did you use the weapon that we use on the drugs that come in by sea?' Do you know that drug shipments by sea are down by 98 per cent? I said, 'That's a hell of a weapon.' They said, 'We'll give it a shot.' It worked very well," he said. He added that the US intends to continue its operations until its strategic goals are achieved. "We don't want to leave early, do we? We got to finish the job, right?" he remarked. Trump also reiterated that the strike against Iran was conducted under Operation Epic Fury, aimed at eliminating threats from what he termed a "terrorist regime."
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