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White House talking about oil release

The WH spokesperson says they have discussed oil efforts with a number of countries.

  • They have discussed a possible joint release of oil from reserves with China and other countries.

The headlines of the news about the release of strategic oil reserves have reached their highest point of influence. Actual action from here (or inaction) is likely to be required to get a bigger reaction. If anything, the price of oil has lost its bullish momentum, at least for the moment.

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