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US seeks well-supplied oil market, political stability as Middle East tensions rise

October 19, 2023 Comments Off

The Biden Administration is closely monitoring the Israel-Hamas war impact on oil supplies, with a keen interest in avoiding any market shocks, a US Department of Energy official told S&P Global Commodity Insights. That could include tapping the US Strategic Petroleum Reserve, if needed, said Deputy Assistant Energy Secretary Joshua Volz, whose portfolio for the agency covers Europe, Eurasia, Africa…