Can tapping oil reserves tame the Iran war price shock?
Mihaela Păun
As conflict chokes off oil exports from the Persian Gulf, governments around the world have a critical line of defence against price shocks: Emergency stockpiles such as the US Strategic Petroleum Reserve (SPR), created in the 1970s as a safety net against energy crises. Oil and gasoline price spikes prompted by the war with Iran have created pressure on President Donald Trump and other world leaders to tap these special facilities. HOW BIG ARE EMERGENCY OIL STOCKPILES The 32 countries that
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