The United States releases an additional 53.3 million barrels of strategic petroleum reserves to stabilize end oil prices.

The United States Strategic Petroleum Reserve has allocated 53.3 million barrels of crude oil to companies including the commodities trading group Trafigura and the US oil refiner Marathon Petroleum, further increasing market supply to curb the surge in oil prices caused by the Iran war. The US Department of Energy said on Monday that Trafigura received the largest quota, close to 13 million barrels, followed by Marathon Petroleum and ExxonMobil. Before the summer driving season, the US government is injecting crude oil into the market at near historic levels, attempting to lower terminal fuel prices. Since the US and Israel launched strikes against Iran in February, the national average retail price of regular gasoline in the US has continued to climb, surpassing the $4.50 per gallon mark for the first time and reaching the highest level since July 2022. This oil release will be implemented from June to August.