September 29, 2026 - The Trump administration said on Tuesday it is offering to loan energy ‌companies 40 million barrels of oil from the Strategic Petroleum Reserve, in an effort to control soaring fuel prices that have jumped on the widening war with Iran and Russia's war on Ukraine.

The United States agreed in March to loan 172 million barrels of oil from the SPR as part of a wider ‌deal with about 30 countries in the International Energy Agency to release 400 million barrels.

The Trump administration in June offered to loan the last 40 million barrels from that IEA agreement, but later that month revealed that companies only agreed to borrow about 500,000 barrels.