Schumer demands Trump tap emergency oil reserves

HUNT VALLEY, Md. (TNND) — Senate Minority Leader Chuck Schumer on Sunday demanded President Donald Trump tap the country’s emergency oil reserves.

He said in a statement that selling oil from the Strategic Petroleum Reserve could stabilize markets affected by the Iran war. The shutdown of the Strait of Hormuz, a passage connecting the Persian Gulf to the Arabian Sea, has impacted about a fifth of the world’s oil supply.

“When wars and global crises disrupt energy markets, the United States has the ability to act, but President Trump and his administration are refusing to do so,” Schumer said. “Trump should release oil from the SPR now to stabilize markets, bring prices down, and stop the price shock that American families are already feeling thanks to his reckless war.”

A White House spokeswoman told The National News Desk on Monday that the president has already “unleashed American energy dominance.” The Department of Energy has also suggested the administration will not yet tap the oil reserves.

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