Gate News reports that on March 12, U.S. Secretary of Energy Jennifer Granholm issued a statement regarding the Strategic Petroleum Reserve (SPR) release plan. Granholm stated that the short-term release of the SPR will be conducted through swaps. Regarding the global supply situation, she pointed out that oil supply in the Western Hemisphere has not experienced real tightness, and the tension is mainly concentrated in Asia. Concerning specific operational data, the U.S. has released 172 million barrels of crude oil, with a return of 200 million barrels expected within a year. Additionally, Granholm reiterated that actions in Iran will take weeks rather than months. On maritime security, she said that currently, naval escort operations are not feasible, but measures for naval escort will be launched soon.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
