Treasury Won't Trade Oil Futures, Focuses on Real Actions
Raleigh News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Oil prices surge amid Middle East tensions, but Treasury denies intervention. U.S. Navy secures Strait of Hormuz, and Development Finance Corporation offers insurance. After Treasurys statement, oil prices drop. Treasury uses other tools like Strategic Petroleum Reserve and sanctions tweaks. Banks predict Brent averaging high fifties to around sixty dollars next year.
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