US seeks bids to exchange 17 million barrels of crude from strategic reserve

The United States plans to release 17 million barrels of crude oil from its Strategic Petroleum Reserve. This action aims to alleviate fuel price pressures amid disruptions caused by the war with Iran. The latest proposal is part of a broader international effort to stabilize energy markets announced in March. Despite earlier attempts yielding limited demand, the US continues to seek ways to increase global fuel supplies.