Latest news with #oilreserve
Reuters
10 hours ago
- Business
- Reuters
Trump administration has 'no imminent plans' to refill nation's emergency oil reserve
WASHINGTON, June 26 (Reuters) - The Trump administration has no imminent plans for refilling the nation's Strategic Petroleum Reserve, White House spokeswoman Karoline Leavitt said on Thursday. The emergency oil reserve is currently at its lowest levels since the 1980s after President Joe Biden tapped the stockpile to help lower prices amid market uncertainty.
Reuters
19-06-2025
- Business
- Reuters
Japan will mitigate potential gasoline price spike, prime minister says
TOKYO, June 19 (Reuters) - Japanese Prime Minister Shigeru Ishiba said on Thursday the government will act to mitigate any impact from a potential surge in gasoline prices due to the Middle East conflict, implementing a preventative measure starting June 26. The government will ensure the nationwide gasoline price on average would not exceed around 175 yen ($1.20) per litre, Ishiba said. Japan already implemented a subsidy aiming to bring down gasoline prices by 10 yen per litre to curb rising energy prices. The country is among the most vulnerable to any supply disruption in the Middle East as it is resource-poor and relies on imports for most of its crude oil, with over 90% sourced from the Middle East. Japan maintains a large national reserve of oil to limit any disruption to supplies. ($1 = 145.3300 yen)
