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White House: "Additional Strategic Petroleum Reserve release if necessary"
Minseung Kang
Summary
- White House economic adviser Kevin Hassett said that if conditions in the Middle East worsen, the administration could release additional oil from the Strategic Petroleum Reserve (SPR).
- Hassett said that if an Iran-related conflict lasts more than six weeks, it could become a burden factor for U.S. consumers.
- This was interpreted as suggesting that rising energy prices could affect overall inflation.
The White House indicated it may consider an additional release from the Strategic Petroleum Reserve (SPR) in response to deteriorating conditions in the Middle East. It also warned that if a conflict involving Iran is prolonged, the burden on U.S. consumers could increase.
According to Odaily, a media outlet specializing in virtual assets (cryptocurrencies), White House economic adviser Kevin Hassett said on the 17th that the administration could release more oil from the SPR if needed.
Hassett noted that if Iran-related conflict continues for more than six weeks, it could become a burden factor for U.S. consumers. This is interpreted as suggesting that rising energy prices could affect inflation more broadly.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
