Tag Archives: emergency reserve

President Joe Biden’s administration announced Friday it’s purchasing 6 million more barrels of crude oil for the Strategic Petroleum Reserve as it continues to slowly refill the emergency stockpile. The purchases, scheduled for October and November, come as the nation’s oil reserve is at its lowest point in 40 years …

Oil prices slipped to a one-week low on Monday on expectations on supply boost and weaker demand under pressures from recent surge in energy costs, the strong dollar and increasing COVID-19 cases.On Sunday, Senate Majority Leader Chuck Schumer urged Biden’s administration to tap into Emergency Petroleum Reserves (SPR) to lower …

U. S. Secretary of Energy Jennifer Granholm has said the administration is facing a politically dangerous rise in gasoline prices, raising the prospect of releasing crude oil from the government’s strategic petroleum reserves. The White House’s average price of gasoline in pumps has remained at $ 3.19 a gallon (the …