U.S. Has Used Up Most Options to Soften the Oil Price Shock

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Neutral
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94%
Time Horizon
Short Term

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The Trump Administration has already used up most emergency options to rein in the soaring international crude oil prices, which have pushed up U.S. gasoline prices by $0.80 per gallon from a month ago. The U.S. last week tapped the Strategic Petroleum Reserve (SPR) as part of a record-high reserves release announced by the International Energy Agency. The Trump Administration also issued a one-month waiver allowing buyers to purchase sanctioned Russian oil on tankers without repercussions. It also promised, two weeks ago, risk insurance and escort…

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Original article published by OilPrice.com on March 18, 2026.
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