Washington taps heating oil reserves to curb prices
The U.S. Department of Energy announced that it will lend up to 315,000 barrels of emergency heating oil stock, out of a total of one million barrels, to help reduce energy prices as winter approaches. This move comes amid disruptions related to the war with Iran, which have caused diesel prices to soar to record levels above $6.50 per gallon. The quantities will be offered through a competitive process to fuel distributors, with deliveries to be completed by November 13. This step takes place ahead of the U.S. congressional elections, amid doubts about its ability to significantly lower prices.
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