The world just smashed the emergency glass on oil prices. Now it’s up to Trump for a long-term fix

Dozens of countries have done the unprecedented, releasing an historic amount of crude from emergency reserves to prevent high oil prices from crippling the economy. If that doesn’t work, there’s only one serious option left: ending the war and opening the Strait of Hormuz.

Mar 12, 2026 - 14:00
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The world just smashed the emergency glass on oil prices. Now it’s up to Trump for a long-term fix
Dozens of countries have done the unprecedented, releasing an historic amount of crude from emergency reserves to prevent high oil prices from crippling the economy. If that doesn’t work, there’s only one serious option left: ending the war and opening the Strait of Hormuz.

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