White House Study to Release Report on Oil Reserves
Will gasoline prices fall after the September 3 Labor Day holiday, as they usually do in the past? As the price of oil have surged in recent weeks, with Brent crude prices closing in on $120 a barrel compared to $90 a barrel in June. The United States and other Group of Eight countries studied a potential oil release in the spring but end up forgetting to do so once prices mysteriously drop. As prices rise again, officials are now collecting information from the market about potential needs and studying futures, production numbers and data on Iranian oil exports.