General · 12 March 2026
Iran's $200 oil warning triggers 572 million barrel release
If oil prices hit high levels, average US gas prices might go above $5 a gallon. Iran warned Wednesday that oil could reach $200 a barrel, prompting the US and International Energy Agency to announce a release from reserves. In total, 572 million barrels of oil will be released, with the US adding 172 million barrels commencing next week.
Reported by Fox Business · How we write briefs