U.S. Secretary of Energy: Oil reserve releases will be conducted through swaps; supply in the Western Hemisphere is not tight.
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U.S. Energy Secretary Wright: The short-term release of U.S. oil reserves will be conducted through swaps. Supplies in the Western Hemisphere are not tight; the main supply strain is in Asia.
We are experiencing significant short-term supply disruptions. The ban on refined oil exports has not been discussed.
Updating......
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