The United States is not considering releasing strategic oil reserves.
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Officials from the U.S. Department of Energy stated that there have been no discussions about releasing the Strategic Petroleum Reserve. According to reports, the U.S. strategic reserve holds approximately 415 million barrels of oil, reserved for emergency situations. The market anticipates that the situation in the Middle East may impact energy supplies, and oil prices in the New York market may rise. Iranian media reported that the Strait of Hormuz has been effectively closed.
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