Energy Department Proposes Releasing Up to 40 Million Barrels From Strategic Oil Reserve Amid High Gasoline Prices
The US may tap its strategic oil reserve as gasoline prices remain high, with the Energy Department proposing a release of up to 40 million barrels of crude oil, Reuters reported.
The proposal would mark a more concrete response after energy executives warned the White House earlier this week that reserves and industry stockpiles being used to cushion the Iran conflict's impact on energy prices were running dangerously low and could reach critical lows within weeks. High fuel costs are already affecting consumers: an Ipsos survey found 44% of Americans are driving less, 42% have cut household spending and 34% have changed travel plans.
From the sources (11 posts)
@firstsquawkOIL EXECUTIVES WARN WHITE HOUSE GAS PRICES SET TO WORSEN: WAPO
@financialjuiceOil executives warn white house gas prices set to worsen - WaPo
@firstsquawkOIL AND GAS EXECUTIVES HAVE WARNED THE WHITE HOUSE THAT GASOLINE PRICES COULD SURGE IN COMING MONTHS AS FUEL INVENTORIES FALL TO CRITICAL LOWS, COMPLICATING THE TRUMP ADMINISTRATION’S EFFORTS TO CONTAIN INFLATION THAT HAS ALREADY RATTLED AM
@jkempenergyU.S. GASOLINE stocks have fallen to the lowest for the time of year since 2014. Stocks have depleted by 38 million barrels since the start of the war with Iran, three times faster than the average over the previous ten years. As a result, i
@oilheadlinenewsOIL EXECUTIVES WARN WHITE HOUSE GAS PRICES SET TO WORSEN: WAPO
@staunovoOil executives warn White House that gas prices will get worse #oott
@macroedgeresUS Energy executives issue dire warning to the White House of dwindling oil reserves - CNN #MacroEdge
@staunovoEnergy executives have warned the White House that key oil reserves being used to limit the Iran war’s impact on prices are running dangerously low, adding further urgency to President Donald Trump’s search for a way out of the conflict. T
@gasbuddyguyRT @FirstSquawk: US ENERGY EXECUTIVES WARNED THE WHITE HOUSE THAT OIL RESERVES BEING USED TO HELP CONTAIN THE IMPACT OF THE IRAN CONFLICT O…
@oilheadlinenewsUS ENERGY EXECUTIVES WARNED THE WHITE HOUSE THAT OIL RESERVES BEING USED TO HELP CONTAIN THE IMPACT OF THE IRAN CONFLICT ON ENERGY PRICES ARE RUNNING DANGEROUSLY LOW, ACCORDING TO CNN.
@nexta_tvThe US may tap its strategic oil reserve over high gasoline prices The Energy Department has proposed releasing up to 40 million barrels of crude oil, Reuters reports. Earlier, Ipsos found that 44% of Americans are driving their own cars