Trump Signals US Will Tap Oil Reserve to Ease Price Shock (4)

President Donald Trump indicated he would tap the US Strategic Petroleum Reserve to help ease oil prices that have soared amid the war with Iran and threaten to further squeeze American households worried about costs of living.

“I’m pleased to report that earlier today, the International Energy Agency agreed to coordinate the release of a record 400 million barrels of oil from various national petroleum reserves around the world,” Trump said during an event in the Cincinnati area Wednesday.

He said the decision would “substantially reduce the oil prices, as we end this threat to America and this threat to ...