Schumer Calls on Trump to Tap Strategic Petroleum Reserve Amid Rising Oil Prices

Senate Democratic Leader says Trump should act to stabilize markets and bring down prices for American families.

Published on Mar. 9, 2026

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Senate Democratic Leader Chuck Schumer is urging President Trump to immediately release oil from the Strategic Petroleum Reserve in response to rising oil and gas prices caused by the military conflict in Iran. Schumer argues the SPR exists for moments like this and that Trump should use it to stabilize markets and bring down prices that are already impacting American families.

Why it matters

The conflict in Iran has disrupted global oil supply, leading to a spike in oil and gas prices that is putting a strain on American consumers. Schumer is pressuring Trump to utilize the SPR, a government-owned supply of crude oil, to help mitigate the price increases.

The details

Oil prices jumped to nearly $120 a barrel before dropping back down, with Brent crude reaching $119.50 and West Texas Intermediate rising to $119.48. The conflict has paralyzed oil tanker traffic through the critical Strait of Hormuz, through which 20 million barrels of oil usually pass per day. Gas prices have risen approximately 43 cents per gallon since the Iran conflict began on Feb. 28.

  • On Sunday, March 8, 2026, Schumer called on Trump to release oil from the SPR.
  • Oil prices spiked on Monday, March 9, 2026 in response to the Iran conflict.

The players

Chuck Schumer

The Senate Democratic Leader from New York who is urging President Trump to tap the Strategic Petroleum Reserve.

Donald Trump

The President of the United States who Schumer is calling on to release oil from the SPR.

Chris Wright

The Energy Secretary who argued that the higher oil prices would be temporary and that gas prices "shouldn't go much higher."

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What they’re saying

“The Strategic Petroleum Reserve exists for moments exactly like this. 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. 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.”

— Chuck Schumer, Senate Democratic Leader (The Hill)

“What you're seeing is emotional reactions and fear that this is a long-term war. This is not a long-term war.”

— Chris Wright, Energy Secretary (CBS's Face the Nation)

What’s next

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The takeaway

This case highlights growing concerns in the community about repeat offenders released on bail, raising questions about bail reform, public safety on SF streets, and if any special laws to govern autonomous vehicles in residential and commercial areas.