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Breaking Posted 2 hours ago

US Taps Strategic Oil Reserve Again as Crude Tops $117

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The Department of Energy authorized an emergency 400,000-barrel exchange to Phillips 66's Louisiana refinery amid supply disruption, with the reserve now at its lowest since 1982. Crude prices above $117/bbl tighten energy costs globally; CAD weakness and EUR pressure on refined-product inflation follow the BOJ's flagged raw-material cost headwinds, signaling which central banks face repricing next.
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