Dhaka, March 21 -- The Trump administration said on Friday it has lent 45.2 million barrels of crude oil from the Strategic Petroleum Reserve to oil companies, in an attempt to control prices that have spiked to four-year highs due to the war on Iran.

The initial batch covers 52% of the up to 86 million barrels the administration announced last week it planned to lend. Ultimately the US aims to lend 172 million barrels for delivery throughout this year and into next.

Companies awarded the initial SPR loans include BP Products North America, Gunvor USA, Marathon Petroleum MPC.N and Shell Trading, the Energy Department said in a statement.

The loans are part of an agreement with 32 countries in the International Energy Agency to release ...