Prices have spiked as the U.S. and allies have imposed steep sanctions on Russia over its invasion of Ukraine.
President Joe Biden is preparing to order the release of up to 1 million barrels of oil per day from the nation's strategic petroleum reserve in a bid to control energy prices.
That's according to two people familiar with the decision who spoke on the condition of anonymity to preview it. The announcement could come as soon as Thursday when the White House says Biden is planning to deliver remarks on his administration's plans to combat rising gas prices. According to a schedule of planned remarks released by the White House late on Wednesday, President Biden is set to deliver remarks on actions the White House plans to take on reducing the price of energy and lowering gas prices on Thursday afternoon.
As the New York Times reported, if fully enacted, the White House plan could release up to 180 million barrels from reserves. There are currently about 550 million barrels in the reserve, and it has a reported total capacity of 714 million barrels.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Ukraine crypto donations surpass $100 million as Russia-Ukraine negotiations in Turkey beginUkraine continues to receive a substantial influx of cryptocurrency contributions, with the value now reaching over $100 million, as more... Continue reading
Leer más »
Oil prices rise as skeptical views emerge over progress between Russia-Ukraine talksOil prices were regrouping and moving higher on Wednesday, with fresh skepticism emerging over progress in bringing an end to the Ukraine war.
Leer más »
Russia-Ukraine live updates: Russia may 'single out and detain' Americans, US warnsLATEST: Air raid sirens sounded off across almost all of Ukraine overnight and into early Wednesday, hours after Russia said it would scale back its military operations around Kyiv and Chernihiv.
Leer más »
Russia-Ukraine live updates: Kyiv, Chernihiv accuse Russia of attacks despite promise to reduce strikesMore than 4 million people have now fled Ukraine, according to the United Nations.
Leer más »
Gas prices, Ukraine can’t cool California confidenceLast time optimism was higher was high was June 2021 — and before that, May 2019.
Leer más »
Biden says 'we'll see' if Russia de-escalates in UkraineU.S. President Joe Biden on Tuesday said it remains to be seen whether Russia follows through with any actions to scale down its military operations in Ukraine, saying Washington and its allies will continue with strong sanctions and aid for Ukraine. 'We'll see if they follow through with what they're suggesting' as Moscow-Kyiv negotiations continue, he told reporters at the White House following his meeting with Prime Minister Lee Hsien Loong of Singapore. 'We're going to continue to keep a close eye on what's going on.'
Leer más »