5:52 am: The United States tries to stabilize oil prices
The black gold is on fire, but the Americans will try to put out the fire. Joe Biden has announced that the United States will release 30 million barrels of oil from strategic reserves. “The United States has worked with 30 other countries to unlock 60 million barrels of oil,” he told Congress. “America will lead this effort” by unblocking half of it. Washington is also “ready to do more, if necessary.”
Earlier, the International Energy Agency had stressed that the decision to release 60 million barrels was a way of “sending a united and strong message to world oil markets that there will be no shortage of supply resulting from the Russian invasion of Ukraine”.