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Bessent Says U.S. Mulling Options to Calm Oil Markets
- U.S. Treasury Secretary Scott Bessent said more oil could be released from the Strategic Petroleum Reserve beyond the 172 million barrels announced last week to help stabilize oil markets.
- The administration planned to release 172 million barrels from the U.S. Strategic Petroleum Reserve starting March 16 over 120 days, as part of a coordinated effort with 30 nations adding about 400 million barrels total.
- Bessent mentioned considering removing sanctions on 130 to 140 million barrels of Iranian floating oil currently without buyers to increase supply.
- The Treasury Secretary stated the U.S. had unsanctioned Russian oil on water and could use Iranian barrels to temporarily lower prices while continuing the campaign and might also release more Strategic Petroleum Reserve oil if needed.
22 Articles
22 Articles
InsideNoVA.com
Bessent says U.S. mulling options to calm oil markets
(The Center Square) - U.S. Treasury Secretary Scott Bessent said Thursday more oil could be released from the nation’s stockpiles than the 172 million barrels announced last week and that other market-based measures could soon add additional supplies to global…
Secretary Bessent says US considering options to steady the oil markets
U.S. Treasury Secretary Scott Bessent said Thursday more oil could be released from the nation’s stockpiles than the 172 million barrels announced last week and that other market-based measures could soon add additional supplies to global energy markets.
The U.S. is weighing options to bring down oil prices
The Trump administration is weighing additional measures to stabilize global oil markets as supply disruptions tied to escalating conflict in the Middle East push prices higher, The Center Square writes. Treasury Secretary Scott Bessent says the U.S. could release more crude from the Strategic Petroleum Reserve beyond the 172 million barrels already announced, while also exploring market-based options to increase supply. One possibility under c…
Crude Oil Prices Erase Gains on Hopes US to Add Supplies to Oil Markets
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Crude Oil Prices Surge , Is the World Heading Toward an Energy Shock?
Refineries have a distinct smell that lingers in the air long after you leave. It is dense, metallic, and somewhat burnt. Most investors don’t consider it when they see the price of crude oil rising on a screen. However, those figures translate into actual movement someplace, distant from trading floors: pipes humming, tankers loading, and pressure-filled decision-making. Those choices feel more pressing than normal right now. In recent sessions…
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