White House Again Mulls Plans for Release from Strategic Oil Reserve
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United States Oil ETF (NYSE: USO) moved higher today, as WTI futures broke above $95 per barrel for the first time since for the first time since May. The move is fueled by increasing tensions in the Middle East over Iran’s nuclear program.
In response to the higher prices, the White House said it was dusting off plans to release oil from the U.S strategic oil reserve, according to reports today from Reuters. The exact amount oil that would be released is unknown.
In response to the higher prices, the White House said it was dusting off plans to release oil from the U.S strategic oil reserve, according to reports today from Reuters. The exact amount oil that would be released is unknown.
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