“If the White House hoped tapping 40% of the U.S. Strategic Petroleum Reserve would quickly push down oil prices, it hasn’t worked,” the Wall Street Journal reports.
“News this week that member countries of the International Energy Agency would coordinate to release 400 million barrels of oil from their emergency stockpiles, of which the U.S. will contribute close to half, barely touched the oil price.”
“Big as the number sounds, it isn’t nearly enough to compensate for the loss of barrels passing through the Strait of Hormuz.”
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