U.S. Ends Release of Oil From Reserves ; Fuel Prices Dip After Storm High
The Washington Times › December 28, 2005
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Summary
The United States, Europe and Japan recently stopped releasing oil and gasoline from their strategic reserves as fuel prices retreated from record post-hurricane highs.
The release of reserve oil in September helped to stamp out speculation that was driving up prices, analysts say, but an energy- saving trend spawned by high prices and lower oil demand in China also helped to stabilize energy markets.See the full content of this document
Extract
U.S. Ends Release of Oil From Reserves ; Fuel Prices Dip After Storm High
"The impact of hurricanes Katrina and Rita has been successfully addressed," said Claude Mandil, executive director of the International Energy Agency, in announcing the end of the reserve program Monday...
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