US Treasury Secretary States Unilateral Oil Reserve Release Possible, Rules Out Market Intervention
Deep News
Mar 19
U.S. Treasury Secretary Scott Bessent announced that the United States will not intervene in oil-related financial markets but may release additional reserves to lower oil prices.
“The U.S. could unilaterally release more SPR to curb oil prices,” Bessent stated on Fox Business on Thursday, referring to the Strategic Petroleum Reserve.
Bessent noted that there had been earlier speculation about the Treasury Department intervening in crude futures markets, but he clarified, “We absolutely will not do that.”
“We will not engage in financial market intervention,” he affirmed.
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