According to CoinMeta, and as reported by Reuters, the U.S. Department of Energy stated on Tuesday that the Trump administration plans to provide energy companies with 40 million barrels of strategic petroleum reserves ( SPR ) crude oil to address rising fuel prices caused by the escalation of tensions with Iran and the Russia-Ukraine war. This measure takes the form of a "loan," with companies borrowing ( SPR ) crude oil, which they will be required to return in the future. Previously, in March, the United States reached an agreement with the International Energy Agency ( IEA ) and about 30 other countries. As part of a plan to release approximately 400 million barrels of crude oil globally, the U.S. committed to providing 172 million barrels of its strategic reserves. The Trump administration had proposed to release the remaining 40 million barrels of crude oil under this agreement in June, but data at the end of that month showed that energy companies actually agreed to borrow only about 500,000 barrels.