US to release 172m barrels of oil from strategic petroleum reserve
Energy secretary says move is part of broader release as oil prices soar due to supply shocks from US-Israel war on Iran
The United States will release 172m barrels of oil from its strategic petroleum reserve in a bid to reduce oil prices that have soared due to supply shocks from the US-Israeli war with Iran, US energy secretary Chris Wright said on Wednesday.
Wright said the release is part of a broader release of 400m barrels of oil agreed to by the 32-country International Energy Agency earlier in the day. Continue reading...
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