US to release 172 million barrels of oil reserves
The US is tapping into its strategic oil reserves, releasing 172 million barrels to help bring down rising fuel prices.
President Trump says the move is meant to make energy more affordable, especially as tensions with Iran are pushing prices up.
He said in a recent interview that he was going to bring down the price of oil.
Tensions with Iran push oil prices up
Iran's recent aggressive actions, like firing on commercial ships and threatening US allies, have made global markets nervous and sent oil prices climbing, even after the International Energy Agency announced that member countries would release about 400 million barrels from emergency reserves.
Despite these efforts, prices are still up over 4%, and the situation remains tense as countries work to stabilize energy supplies.