The US Department of Energy has confirmed no plans to tap the Strategic Petroleum Reserve as tensions escalate with Iran, signaling confidence that any oil price surge will be limited. With Brent crude at $72.87 per barrel, markets anticipate volatility when trading resumes Sunday evening in New York.

While the SPR holds approximately 415 million barrels that could be released to stabilize markets, officials believe such action unnecessary at this stage. The reserve proved effective during Russia's 2022 Ukraine invasion but would be insufficient if Iran were to close the Strait of Hormuz, through which 20% of global oil flows. Iranian media reported the strait as "effectively" closed following warnings from Revolutionary Guards about unsafe passage for vessels.

Industry experts suggest Opec+ members may respond with emergency supply increases at their Sunday meeting. Analysts predict potential production boosts three to four times the scheduled 137,000 barrels per day increase for April. Kevin Book of ClearView Energy Partners notes that while the US maintains substantial reserves, a full Hormuz crisis could overwhelm both American and International Energy Agency strategic stocks. The strategic reserve was established after the 1973-74 oil embargo caused prices to nearly quadruple and triggered global recession.