11/30/2022, 2:14 PM (Source: TeleTrader)
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Biden could ask Congress to up heating oil reserves - report

United States President Joe Biden is considering asking lawmakers to increase the reserves of heating oil as winter goes on, CNBC reported on Wednesday. The White House could ask Congress to double the cap on heating oil storage in order to raise the amount in reserve, according to people familiar with the matter.

The Department of Energy told CNBC that industry-held inventories are currently "below average" and that the Biden administration is looking into "all options available" to secure enough fuel in case of a cold winter ahead.

Baha Breaking News (BBN) / DJ