President Donald Trump directed the Department of Energy to release 172 million barrels of oil from the Strategic Petroleum Reserve on Wednesday, as part of a coordinated international effort to ease skyrocketing energy prices amid the ongoing war with Iran.

The announcement came during Trump's visit to Ohio and Kentucky, where he told Cincinnati news station Local 12 that the U.S. would tap the reserve to bring down prices. "We'll do that, and then we'll fill it up. I filled it up once, and I'll fill it up again. But right now, we'll reduce it a little bit, and that brings the prices down," Trump said.

The release forms part of a broader plan approved by 32 International Energy Agency member nations to collectively discharge 400 million barrels of oil and refined products from their strategic stockpiles. Delivery from the U.S. reserve will begin next week and span approximately 120 days, according to Energy Secretary Chris Wright. Wright noted that the U.S. plans to replace the released oil with about 200 million barrels over the next year at no cost to taxpayers, emphasizing President Trump's commitment to energy security.

The Strategic Petroleum Reserve currently holds around 415 million barrels, or about 60% of its maximum capacity of 713.5 million barrels. The move addresses disruptions from Iran's closure of the Strait of Hormuz and attacks on oil tankers, which have stalled over 150 ships and disrupted roughly 20% of global petroleum supply. Crude oil prices have surged to $114 per barrel, the highest since the COVID-19 pandemic, while the national average gas price reached $3.578 per gallon.

The conflict, dubbed Operation Epic Fury by the U.S. and Operation Roaring Lion by Israel, began on February 28 when American and Israeli forces struck Iranian nuclear facilities, military sites and leadership targets, including the assassination of Supreme Leader Ali Khamenei. Iran retaliated with missile and drone barrages on U.S. bases, Israeli cities and Gulf allies, while closing the strait and targeting energy infrastructure. As of Wednesday, the war entered its second week, with continued strikes on both sides, including Iranian missile attacks on U.S. sites in Kuwait and Bahrain.

Wright linked the release to Iran's long history of threatening energy security through proxies and manipulations. "For 47 years, Iran and its terrorist proxies have been intent on killing Americans. They have manipulated and threatened the energy security of America and its allies. Under President Trump, those days are coming to an end," he said.

The decision follows days of speculation about tapping the reserve, with oil prices initially climbing before easing slightly on reports of the potential release. Trump has also floated Navy escorts for tankers through the strait and insurance incentives for shipping companies.