U.S. not in talks to release more oil from strategic reserves, Energy Dept says

Investing.com -- The United States is not engaged in any discussions to release additional crude oil from strategic stockpiles, an Energy Department official tol Reuters on Thursday.

The statement comes as the International Energy Agency considers another coordinated release to address supply disruptions stemming from the war in Iran. IEA members in March agreed to release a record 400 million barrels.

Oil prices have skyrocketed since the U.S. and Israel attacked Iran just over a month ago, driven by supply shocks following the closure of the Strait of Hormuz.

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