10/7/2021, 4:47 PM (Source: TeleTrader)
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US won't tap into strategic oil reserves - Energy Dep.

The United States Energy Department spokesperson stated on Thursday that currently the agency is not considering releasing crude oil supplies from the national strategic reserves, nor does it plan to pursue banning oil exports.

The statement comes a day after US Energy Secretary Jennifer Granholm suggested that the actions are all tools "under consideration" and that amid gasoline price surge all options are "on the table."

Following the comments, oil prices jumped erasing some of the previous losses. WTI for settlements in December increased by 0.40% to sell for $77.02 per barrel at 10:44 am ET, while Brent for December deliveries was up 0.31%, going for $81.09 per barrel at the same time.

Baha Breaking News (BBN) / LH