Wednesday, President Joe Biden will announce a set of new actions to strengthen U.S. energy security, encourage production, and bring down fuel prices. This includes releasing an additional 15 million more barrels of crude oil from the Strategic Petroleum Reserve, or SPR.
Biden is scheduled to make this announcement during a White House speeach at 1:15 PM ET Wednesday.
The Department of Energy said that its Notice of Sale of up to 15 million barrels of crude oil to be delivered from the Strategic Petroleum Reserve in December 2022 will go live at 10 AM ET.
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Political News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.