India, March 12 -- The United States has said it will release 172 million barrels of oil from its Strategic Petroleum Reserve as the Iran-US war has started to take toll on the global energy supplies. This comes amid Iran's retaliation keeping the Strait of Hormuz, the key passage that facilitates the transport of roughly a fifth of the world's oil and liquefied natural gas, blocked. Track Iran US war updates

"President Trump authorized the Department of Energy to release 172 million barrels from the Strategic Petroleum Reserve, beginning next week. This will take approximately 120 days to deliver based on planned discharge rates," US secretary of energy Chris Wright said in a statement.

Wright said that US President Donald Trump has pr...