US Rules Out Oil Export Ban As Prices Surge Amid West Asia War

Last Updated:March 19, 2026, 23:22 IST

The Trump administration won't restrict oil exports despite rising energy costs from Middle East conflicts.

The Donald Trump administration is not considering any restrictions on oil exports, a US official said on Thursday, even as Washington grapples with rising energy costs triggered by the ongoing conflict in the Middle East.

“Oil and gas export restrictions are not under consideration," the official told AFP, signalling that the US will continue to keep global supply lines open despite mounting pressure on domestic prices.

The clarification comes as the administration looks for ways to contain the impact of surging fuel costs on consumers. Oil prices have spiked sharply in recent days, with Brent crude briefly crossing $119 per barrel, driven by escalating attacks on energy infrastructure and disruptions around key shipping routes such as the Strait of Hormuz.

Officials in Washington have been exploring measures to stabilise markets, including potential releases from strategic reserves and diplomatic efforts to ease supply constraints.

Addtionally, member countries of the International Energy Agency (IEA) have committed to releasing 400 million barrels of oil from emergency reserves by the end of March to help ease disruptions in global oil trade caused by the war involving Iran.

According to the agency, the United States has committed to releasing 172 million barrels, making up the largest share of the coordinated action. The remaining volumes will come from the IEA’s other 31 member countries, including major contributions from Europe and Asia-Oceania.

European countries also have pledged a combined 107.5 million barrels from government and industry reserves, while Asia-Oceania members are expected to release stocks immediately, the agency said.

The coordinated move represents the largest emergency oil release in the IEA’s history. Since the agency was founded in 1974, only five such collective releases have taken place. Two of those occurred in 2022, when energy markets were destabilised following Russia’s invasion of Ukraine and the resulting spike in global oil prices.

News world US Rules Out Oil Export Ban As Prices Surge Amid West Asia War

Read More