The Trump administration ordered the release of 172 million barrels of oil from the U.S. Strategic Petroleum Reserve this week, making it the second-largest release from the reserve in its history after former President Joe Biden’s 2022 withdrawal of 180 million barrels. The move was meant to stem oil prices, which hovered over $100 a … Read more
Washington — A federal judge has quashed a pair of grand jury subpoenas sent to the Federal Reserve Board as part of a criminal probe by U.S. Attorney Jeanine Pirro’s office, saying they were merely a pretext to pressure Chairman Jerome Powell into voting for lower interest rates or resigning. “There is abundant evidence that … Read more
The Trump administration announced Wednesday that it would release 172 million barrels of oil from the Strategic Petroleum Reserve. James Bikales, energy reporter for Politico, joins CBS News to discuss what impact that may have on gas prices. Source link
IE 11 is not supported. For an optimal experience visit our site on another browser. Now Playing Trump to tap strategic oil reserve to bring down gas prices 03:05 UP NEXT Two killed in tornado outbreak 01:58 TSA officers quit amid partial government shutdown 01:29 The Cost of Denial: Oklahoma homeowners sue State Farm over … Read more
President Trump ordered the release of 172 million barrels of oil from the United States’ Strategic Petroleum Reserve on Wednesday, after oil prices rocketed to their highest levels in years amid the U.S.’s war with Iran. The releases will start next week and take about 120 days, Energy Secretary Christopher Wright said Wednesday in a … Read more
With oil exports through the Strait of Hormuz halted, the International Energy Agency is meeting with G7 countries about whether they should tap their strategic petroleum reserves. CBS News reporter Kati Weis is following the debate. Source link
NEWYou can now listen to Fox News articles! President Donald Trump’s Federal Reserve chair nominee, Kevin Warsh, will meet Tuesday with Sen. Thom Tillis, R-N.C., the Republican who has been holding up his nomination amid GOP concerns tied to a criminal probe involving Fed Chair Jerome Powell. Tillis told Fox News Digital he supports Warsh, … Read more
Gas prices are surging across the U.S., with motorists paying about 20% more per gallon than before the start of the U.S. war with Iran. Experts say one option that could help tame prices at the pump is tapping the Strategic Petroleum Reserve, the nation’s emergency oil stockpile designed to cushion supply shocks. The average price per … Read more
Biden’s unprecedented oil drawdowns damaged U.S. storage sites. Source link
The Trump administration has formally nominated Kevin Warsh, a former top Federal Reserve official, to be next Fed chair when Jerome Powell’s term ends in two months WASHINGTON — The Trump administration has formally nominated Kevin Warsh, a former top Federal Reserve official, to be the next Fed chair when Jerome Powell’s term ends in … Read more