buyappleacc.com is a reputed website selling apple developer account, providing us, China and worldwide developer individual accounts for sale. It's at low price and good quality. Always provides satisfying services!

HomeSocialtext

aws账号(www.2km.me)_US to sell 18mil barrels of oil from reserves on Dec 17

admin2021-12-1336

aws账号

aws账号www.2km.me)提供aws账号、aws全区号、aws32v账号、亚马逊云账号出售,提供api ,质量稳定,数量持续。另有售azure oracle linode等账号.

The Biden Administration announced last month it would release about 50 million barrels from its reserves in conjunction with other countries to combat the rising cost of fuel.(File pic shows oil reserves at Cushing, Oklhoma. - Reuters)

Washington The U.S. Department of Energy said on Friday it will sell 18 million barrels of crude oil from its strategic petroleum reserve (SPR) on Dec. 17, as part of a previously announced plan to try to reduce oil prices.

The Biden Administration announced last month it would release about 50 million barrels from its reserves in conjunction with other countries to combat the rising cost of fuel.

The White House has been trying to deal with Americans' worries about high fuel costs, even though the president has few tools to deal with the price of crude, a global market influenced by numerous factors.

“The President rightly believes Americans deserve relief now and has authorized the use of the SPR to respond to market imbalances and reduce costs for consumers," said  Energy Secretary Jennifer Granholm.

Oil prices rose to seven-year highs at more than $86 a barrel due to surging fuel demand worldwide, but have dropped by nearly 13% since late October, in part due to the U.S. announcement and the emergence of the Omicron variant of coronavirus that has dented travel around the world.

The Brent benchmark ended at $75.15 a barrel on Friday.

The 18 million barrels to be sold had already been approved by Congress in 2018. The remaining barrels will be issued in coming months through exchanges. The first exchange of 4.8 million barrels will be with Exxon Mobil Corp, the largest U.S. oil company.

U.S. retail gas prices are currently averaging $3.33 a gallon, the lowest since mid-October, according to the American Automobile Association. Prices peaked at $3.42 a gallon early in November.

The United States holds roughly 600 million barrels of crude oil in giant caverns in Texas and Louisiana. Its current inventory is at its lowest since 2003.

Meanwhile oil prices rose on Friday slightly and were on track for their biggest weekly gain since late August, with market sentiment buoyed by easing concerns over the Omicron coronavirus variant's impact on global economic growth and fuel demand.

The Brent and U.S. West Texas Intermediate (WTI) crude benchmarks were both on course for gains of about 8% this week, their first weekly gain in seven, even after a brief bout of profit-taking.

Brent futures were up 42 cents, or 0.6%, at $74.85 a barrel by 2:06 p.m. Eastern (1706 GMT) after falling 1.9% on Thursday.

WTI rose 43 cents, or 0.6%, to $71.37 after sliding 2% in a volatile session the previous day.

"Oil traders are coming out of their shell-shock and feeling more bullish as they recalibrate their demand expectations in the aftermath of the Omicron variation of the coronavirus," said Phil Flynn, senior analyst price futures group in Chicago.

Reviews

Popular tags