US Treasury Secretary Bessent: SPR Release Complexity and Limits Amid Oil Price Stabilization Efforts

Published: Mar 21, 2026 16:38

Save

US Treasury Secretary Bessent claimed that the Strategic Petroleum Reserve (SPR) could be tapped again to suppress oil prices, but the reality was far more complex than this statement suggested—the reserve level was already close to the statutory minimum, and physical safety constraints left extremely limited room for any further release.Last week, Bessent said that the US had participated in the largest internationally coordinated SPR release operation to date, totaling 400 million barrels, and warned that, if necessary, the US could once again unilaterally release reserves to stabilize oil prices.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

Common.Time.minsAgo

Data: SHFE, DCE market movement (Mar 26)

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 26 Mar , 2026

Common.Time.minsAgo

1 hour ago

Supply Constraints and Increased Demand Continued to Drive Down Inventory, Spot Premiums Are Expected to Remain Firm Next Week [SMM South China Spot Copper Cathode Weekly Review]

1 hour ago

Demand for Copper Cathode in the North Market Cooled as Copper Prices Rebounded

[SMM North China Copper Cathode Spot Market] During the week, demand for copper cathode in the market cooled as copper prices rebounded. However, supply in the northern market had previously been tight for a time, copper cathode inventory was not high, and downstream buyers picked up goods under long-term contracts during the week, giving suppliers some impetus to hold prices firm.

1 hour ago