It’s not clear yet whether drawing down stockpiles will lower prices.
A sign displays the prices of unleaded gasoline at a Shell gas station in Palo Alto, California, US, on Tuesday, March 10, 2026. Gasoline, diesel and jet fuel prices have jumped, as the conflict between the US, Israel and Iran chokes off oil shipments through the Strait of Hormuz. Photographer: David Paul Morris/Bloomberg
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