Oil pared gains after the U.S. said it may announce measures to ease oil and gasoline prices as soon as this week.
Futures in New York were up 0.8%, after rising as much as 1.7% earlier on Monday. U.S. Energy Secretary Jennifer Granholm said that President Joe Biden may make an announcement to address high oil and gasoline prices this week. Granholm didn’t specify any particular measures, but the U.S. has said that releasing crude from the Strategic Petroleum Reserve is one option it’s considering to cool prices.
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November 08, 2021 at 06:12AM
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Oil Pares Gains as U.S. Hints at Actions to Quell Rising Prices - Bloomberg
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