US Ready to Release Emergency Oil if Needed

The U.S. Department of Energy said on Friday it stands ready to release crude oil from the nation's emergency stockpile if needed due to the impacts of Hurricane Harvey, which is bearing down on the Texas coast.

 

"The Department of Energy stands ready to provide assistance as deemed necessary, to include any release of the Strategic Petroleum Reserve," spokewoman Shalyn Hynes said in a emailed statement. "We are in close contact with our federal, state, and local partners and are closely monitoring the storm."


(Reporting by Valerie Volcovici, writing by Richard Valdmanis; Editing by Chizu Nomiyama)