Trump suffers new Iran defeat: 'Loses' 50 million oil barrels as US Navy fails in Hormuz?

The Trump administration will reportedly loan 53.3 million barrels of crude from the U.S. Strategic Petroleum Reserve to energy companies as part of a wider effort to calm oil markets shaken by the Iran war and disruption around the Strait of Hormuz. Reuters-linked reporting says this is a loan, not an outright sale, and it forms part of a coordinated International Energy Agency response to the supply shock.