BREAKING NEWS

US: All options on table in dealing with oil market

By REUTERS

SEPTEMBER 18, 2012 18:23

Releasing emergency reserves of oil remains one option in dealing with volatile energy markets, the White House said on Tuesday.

"Our position on the SPR is what it has been, which is that we monitor the situation regularly and constantly together with our international partners and we continue to say that all options remain on the table," White House Press Secretary Jay Carney said of the Strategic Petroleum Reserve. "But I don't have any announcements."

Oil slipped below $114 a barrel on Tuesday, extending the previous session's slide, on signs that top crude exporter Saudi Arabia is pumping at high rates to dampen prices.

"The administration welcomes the Saudi Arabian oil minister's recent remarks and shares his concerns about rising oil prices," Carney told a news briefing. "We also welcome Saudi Arabia's commitment to taking all necessary steps to ensure the market is well-supplied and to help moderate prices."

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