Trump Faces a Reckoning on His Oil Promise to America
Donald Trump
Donald Trump returned to office with a vow to refill the Strategic Petroleum Reserve (SPR) "right to the top" after his predecessor Joe Biden had overseen a historic release to mitigate the painful oil price spike after Russia's 2022 invasion of Ukraine. But Trump's Iran war has turned that promise, so far unfulfilled, into a stress test of his leadership. Global oil markets have fallen into crisis. Shipping through the vital Strait of Hormuz slowed to a near-standstill, pushing crude prices
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