Biden Just Put A Floor Under Oil. Will It Work?
The Biden administration is ready to sell additional volumes of crude oil from the strategic petroleum reserve after the end of the 180-million-barrel release plan and then it would begin replenishing the SPR once prices fall to $67-$72 per barrel. This is the main outtake from a fact sheet published by the White House this week as the administration continues to look for ways to tame retail fuel prices with just weeks left until the midterm elections. The SPR draws—and plans for more—have caused concern among some analysts, who have…