LONDON: Despite warning from analysts, US President Joe Biden finally announced the release of crude oil from the country’s strategic stockpile, a unilateral move first mooted by his Energy Secretary Jennifer Granholm in October, as he seeks to curb inflationary pressure in the US economy, Arab News reported. Gasoline prices nationwide are averaging about $3.40 a gallon, … Read more
Oil prices saw a record surge after attacks on two Saudi facilities slashed output in the world´s top producer by half, fueling fresh geopolitical fears as Donald Trump blamed Iran and raised the possibility of a military strike on the country. Brent futures surged $12 in the first few minutes of business — the most … Read more
President Donald Trump took a big step to authorize the release of oil from US strategic reserves after drone attacks on Saudi Arabia’s Abqaiq plant. In a tweet, Trump wrote, “Saudi Arabia oil supply was attacked. There is reason to believe that we know the culprit, are locked and loaded depending on verification, but are … Read more
