U.S. Energy Secretary Wright: Short-term releases of U.S. strategic petroleum reserves will be conducted through a swap mechanism.

CoinFeed reported on March 12th that, according to Jinshi Data, US Energy Secretary Wright stated that the release of US strategic petroleum reserves in the short term will be conducted through a swap arrangement. There is no real shortage of oil supply in the Western Hemisphere; the main strain is in Asia. 172 million barrels of crude oil have already been released, and in return, 200 million barrels will be recovered within a year. He reiterated that operations in Iran will take weeks, not months. Naval escort is currently not feasible, but it will begin soon.