U.S. Not Planning To Tap Strategic Petroleum Reserve Immediately ...Middle East

The United States does not plan an immediate release crude from the Strategic Petroleum Reserve (SPR) as a means to mitigate the effect of the Iran war on global oil prices and domestic fuel prices, a source with knowledge of the matter has told Bloomberg.  Late on Monday, U.S. Secretary of State Marco Rubio said the United States would unveil on Tuesday a phased plan to mitigate the spike in oil prices amid the ongoing conflict in Iran and the wider Middle East.  The U.S. knew that oil prices would spike after the weekend in which attacks…

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