White House / President·Energy

DOE seeks exchange of up to 40 million SPR barrels as Hormuz war keeps oil elevated

Published 5:00 PM CT, Tuesday, September 29, 2026 · Updated 5:10 PM CT
In the 5 PM CT update

The U.S. Department of Energy on Tuesday issued a Request for Proposal for an exchange of up to 40 million barrels of crude from the Strategic Petroleum Reserve’s Big Hill and Bryan Mound sites, continuing execution of President Trump’s previously announced 172-million-barrel release coordinated with a broader International Energy Agency 400-million-barrel commitment, DOE said. Energy Secretary Chris Wright said the United States and Japan are delivering on their pledges while “several European member countries have released only a fraction” of what they promised, and noted exchanges refill the SPR with premium barrels at no cost to taxpayers. Bids are due by 11 a.m. Central Time Tuesday, Oct. 6, with deliveries under awarded exchanges scheduled for November and December 2026, according to the department.

• Strategic Petroleum Reserve
• Department of Energy
• Chris Wright
• Oil
• International Energy Agency
• Big Hill
• Bryan Mound
• Donald Trump
• Energy security
• Strait of Hormuz
• Iran
• United States