The #Trump administration abruptly reversed its position on releasing emergency oil reserves during the #Iran conflict. Early Tuesday, U.S. officials told G7 allies that a major release was premature because oil prices had dropped below $90 per b...
...arrel. Less than two hours later, Trump changed course after advisers warned about volatile markets and the risk that Iran could close the Strait of Hormuz. The International Energy Agency then approved a record release of 400 million barrels from strategic reserves, with the United States contributing more than 100 million barrels even though its reserve is only about 60% full. Some allies were surprised by the sudden shift but agreed to avoid market instability. Source: WSJ
...arrel. Less than two hours later, Trump changed course after advisers warned about volatile markets and the risk that Iran could close the Strait of Hormuz. The International Energy Agency then approved a record release of 400 million barrels from strategic reserves, with the United States contributing more than 100 million barrels even though its reserve is only about 60% full. Some allies were surprised by the sudden shift but agreed to avoid market instability. Source: WSJ