U.S. Oil Futures Rally After White House Says It Will Tap SPR -- WSJ

Dow Jones
03/12

U.S. oil futures added about $6 a barrel in late trading after the Energy Department said it will tap the Strategic Petroleum Reserve in conjunction with similar market-supporting moves announced earlier by allies including Germany and Japan.

West Texas Intermediate futures for April delivery, which settled Wednesday at $87.25 a barrel, rose another 7% to above $93 in after-hours trading. Energy Secretary Chris Wright said the government's oil would start hitting the market next week and that it would take about 120 days to discharge the authorized 172 million barrels, suggesting to traders that the White House is bracing for a prolonged disruption to Persian Gulf supplies.

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(END) Dow Jones Newswires

March 11, 2026 20:39 ET (00:39 GMT)

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