Oil barrels from reserves being released to address supply risk as gas prices jump in U.S.
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The Bottom Line
The U.S. and IEA are releasing oil from reserves to address supply risk as gas prices jump.
How This Affects You
This action aims to impact gas costs, which have jumped 15% since the Iran war began, potentially affecting your wallet.
AI Summary
The U.S. and the International Energy Agency are releasing oil from their reserves. This action is in response to the average price of a gallon of gas in the U.S. jumping 15% since the Iran war began. Kelly O'Grady is evaluating whether these moves will impact gas costs. The article does not specify the exact amount of oil being released or the specific dates of the releases.
What's Being Done
The U.S. and International Energy Agency are releasing oil from their reserves.
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GlobalIran war puts at risk key pipelines, terminals and refineries that supply the world with oil and gas - AP News
<a href="https://news.google.com/rss/articles/CBMipwFBVV95cUxQdUdYamNCcWdEdDNoTDBCU0wwOFZOVENDZmdZMUxtbzRFQnFJVERBb3lRa20ydmZhenVEcG5qajh0d0F0VF9Ja0x1c0hXOThhMFB4QXk0R0FTT1pkblh0MjJEMVBwYmZHYVNqM010UWo4dkx6NkVoZU1xX19DSURxcjQyQllxZGFUZG15MnJUTFZxbGkwMnBxVm5ReTdvd2wxVEc5Nk5Ccw?oc=5" target="_blank">Iran war puts at risk key pipelines, terminals and refineries that supply the world with oil and gas</a> <font color="#6f6f6f">AP News</font>
GlobalCan tapping into oil reserves help stabilize prices?
The decision by the International Energy Agency to tap into oil reserves is historic in its size and scope. The 400 million barrel release dwarfs the number released after Russia invaded Ukraine. But there are many questions about whether this more ambitious effort will stop a surge in oil and gas prices if the war endures. Geoff Bennett discussed more with Clay Seigle.
GlobalWhy Oil Prices Surged Even After the Release of Strategic Reserves
Reserves or no reserves, the outlook remains bleak as long as a major oil and gas trade route remains virtually closed.
GlobalG7 energy ministers stop short of oil reserves release, ask IEA to study options - Reuters
<a href="https://news.google.com/rss/articles/CBMilAFBVV95cUxQc0hPclltSkJSRWZYLXNSaHdNejZIMC1SY0FPOHIwbjJfRGhvZ092SkhlRGFhcmNxczRnVDZ0Q3MxaXZYREZFN2s2ZVExZEZiRC1Qd0VvMHFvTUpRSzlJdXBGWUJGSzdTR0EtWXhEYy1fZWFSdlRINUJya3cyR0pBcTBHMVczZGRuaEJmNmQ5emU4c1g1?oc=5" target="_blank">G7 energy ministers stop short of oil reserves release, ask IEA to study options</a> <font color="#6f6f6f">Reuters</font>
FinanceIEA agrees to record release of emergency oil reserves in an effort to calm surging prices - AP News
<a href="https://news.google.com/rss/articles/CBMimgFBVV95cUxNZWFHZDZSZncwb0NyT2tlTS1QZnNQVmZtd0ZxdGhtMGFrZXpDcTZ6TTlWNnk0bm5EanBwWng5dGxta2o4cWVBczR6cDdDMnR0SDcxU0lJWmc4VzMxeGo0RHhvUmNOQ2hpampBWncwVkJUbHFQMmVLaWRsejQ5X0QwdVhkZ0QzM2hNWTRCZ1hKbC1JLUNNSkQwRmRR?oc=5" target="_blank">IEA agrees to record release of emergency oil reserves in an effort to calm surging prices</a> <font color="#6f6f6f">AP News</font>
PoliticsFrom the archives: Richard Nixon addresses the 1973 energy crisis
Then-President Richard Nixon addressed the nation from the Oval Office during the 1973 energy crisis. Fueled by the Yom Kippur War, members of the Organization of the Petroleum Exporting Countries in the Middle East banned the sale of oil to the U.S. and other countries, sharply raising gas prices for Americans as they faced their first fuel shortage since WWII.
Israel’s Deadly Blockade Traps 7 U.S. Doctors in Gaza
Doctors who went to Gaza said Israel’s suspension of travel puts vulnerable patients at risk after years of genocide. The post Israel’s Deadly Blockade Traps 7 U.S. Doctors in Gaza appeared first on The Intercept .
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