Trump says he may use Strategic Petroleum Reserve, discusses British offers and shipping insurance

Reporters asked about oil-market measures and allied support after the president discussed military operations. When asked if he would consider tapping or using the Strategic Petroleum Reserve (SPR), President Trump said he had built up reserves previously and that he would act "at the appropriate time, which is basically a gut instinct," adding that he would consider moves to ease oil-market pressure. (President Trump, S2)

A reporter noted that U.S. officials had announced temporary allowances for some Russian oil sales to India. The president responded that he would weigh options to relieve market pressure but emphasized U.S. energy abundance: "We've got a lot of oil. Our country has a tremendous amount," he said. (President Trump, S2)

On allied support, a reporter said the British government had offered use of bases and carriers; the president said he had publicly responded and that he did not currently need additional carriers or bases. He also said the administration had insurance and reinsurance arrangements in place for ships and that traffic through the Strait of Hormuz was limited at the time. (President Trump, S2)

The president characterized potential oil-price effects as temporary and said he would refill reserves when appropriate. No specific SPR transactions or timelines were announced at the event. Reporters did not receive immediate details about the insurance arrangements or any formal agreements with allies during the session.

Outcome and next steps: The administration signaled possible market interventions and said it would consider SPR actions; officials will need to confirm details in follow-up briefings.