U.S. To Release Oil From Reserve To Boost Supply

Posted on June 23rd, 2011 by Julian Kirby

Wary of a new surge in gas prices, the Obama administration has decided to release 30 million barrels of oil from the country’s emergency reserve as part of a broader international response to lost oil supplies caused by turmoil in the Middle East and North Africa, particularly Libya. Oil prices dropped nearly 5 percent Thursday [...]