The US government hinted at a new release of oil from its US Strategic Petroleum Reserve (SPR) yesterday, minutes after crude soared to within just two cents of $34 a barrel in London. A further release of oil from the emergency reserves remains "an option," US Energy Secretary Bill Richardson said. Brent crude fell back here following Richardson's remarks to $33.36 a barrel from $33.74 shortly before.
Oil price fluctuates
The US government hinted at a new release of oil from its US Strategic Petroleum Reserve (SPR) yesterday, minutes after crude…
Join The Irish Times on WhatsApp and stay up to date
Sign up to the Business Today newsletter for the latest new and commentary in your inbox
Listen to Inside Business podcast for a look at business and economics from an Irish perspective