The Trump administration has started the process of releasing oil from US emergency reserves.

Trump Administration Launches Massive SPR Release: 86M Barrel Swap to Hit Markets Next Week

The taps are opening. The Trump administration has kicked off a major emergency oil reserve drawdown, issuing a request to exchange 86 million barrels of crude. The Energy Department says oil from the Strategic Petroleum Reserve will start flowing to markets by the end of next week—part of a 172 million barrel release announced Wednesday.

The full release will take four months and is coordinated with other countries as part of a 400 million barrel global effort. Under the swap deal, companies will eventually return the oil plus a premium. And the administration is already planning ahead: next year, it will refill the SPR with 200 million barrels—20% more than what's being pulled now.