US Energy Secretary: Hormuz Strait Needs to Reopen, Will Release Strategic Petroleum Reserve to Address Supply Disruptions

Gate News: On March 12, U.S. Energy Secretary Granholm stated that the Strait of Hormuz (a critical global oil transportation route) needs to be reopened. To address supply disruptions, the U.S. will release strategic petroleum reserves (SPR), which is expected to sustain supply for several weeks. Granholm emphasized that this release of oil reserves will not cost American taxpayers anything.

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