U.S. releasing 172 million barrels of oil from reserve
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The Bottom Line
President Trump's administration will release 172 million barrels of oil from the Strategic Petroleum Reserve.
How This Affects You
This release of oil from the Strategic Petroleum Reserve could potentially impact gas prices you pay.
AI Summary
The Trump administration announced Wednesday it would release 172 million barrels of oil from the Strategic Petroleum Reserve. James Bikales, an energy reporter for Politico, will join CBS News to discuss the potential impact on gas prices. The article does not provide further details on the specific consequences or the "why" beyond the stated release.
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GlobalU.S. to release 172 million barrels of oil from Strategic Petroleum Reserve as prices surge
Energy Secretary Chris Wright said Wednesday that the United States will release 172 million barrels from the Strategic Petroleum Reserve as part of the International Energy Agency's efforts to combat steep oil prices amid the Iran war.
PoliticsUS to release 172 million barrels of oil from strategic petroleum reserve - Reuters
<a href="https://news.google.com/rss/articles/CBMitAFBVV95cUxNbE1OVmJKOVFvZXRRU2JycHNBXy1ycjdJdTY5SFJYY2pkeHJwVy13ZkJJQk5ZY3VzTGlCVm9hMVBVZ0hZY1NSWlNBUWlLRkpqa0JqUmNOcjBJZlZpSUc3aHBQWGQ1czFNaVBvRU9wWTYwQ0NWTFBFRmlLd2JJMjgtcWV4OXRlWWZvakJ6TDJvUWNCY2hhVjZCbktXcWNCVS16VENVSERhdnQ0NmRoNjVFM3FXTDc?oc=5" target="_blank">US to release 172 million barrels of oil from strategic petroleum reserve</a> <font color="#6f6f6f">Reuters</font>
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.
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>
GlobalBroad agreement in G7 not to release oil reserves just yet, says G7 official - Reuters
<a href="https://news.google.com/rss/articles/CBMivgFBVV95cUxQekpzQ2p6WE5KTWhnX0dvNFQwYTN5STVIR180SEMtc1dzcWptb0dOYWFETDRYbUJPWGxlTnZILXc1MTNQZzFlVUpsSVhEN3JVQTJVNmRsLU9aVllDZmlqdm1WTEZsSmQyY2NhbGVpZUJsVzZyZ09VamkyZFpaT1ZKRnJSQWp1YTQxc0Jfb3VPQzZCXzRyUnJMV3dBRkJ3Ulh0UjlVWTN2YkxBV0lsLVkzNl82VE1hMFlTQzBWa0RR?oc=5" target="_blank">Broad agreement in G7 not to release oil reserves just yet, says G7 official</a> <font color="#6f6f6f">Reuters</font>
FinanceWorld shares are mixed as investors watch for release of oil reserves and crude heads higher - AP News
<a href="https://news.google.com/rss/articles/CBMikwFBVV95cUxOaUtKTFhnN0lka1hsbXpJWVBVZEZJRm5mSlZiQTBvRm14SlpuT2FhWGxqYkFnSGFQcEZMUEdURG1hdkNWbG9DdG9acEQzNHRMelJaZjE1a3dpYmo2ZkNiREpyajBialVDTE94QTI4X2I4TmZXOGdhd21tekM2VnR4VGxfeTdScFNXVm9GMV8yTzc1QWc?oc=5" target="_blank">World shares are mixed as investors watch for release of oil reserves and crude heads higher</a> <font color="#6f6f6f">AP News</font>
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A federal judge blocked two grand jury subpoenas against Federal Reserve Chair Jerome Powell on Friday. Chief Judge James Boasberg wrote that "the Government has offered no evidence whatsoever that Powell committed any crime other than displeasing the President."
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