Make Kitco Your Homepage

White House weighing plan to boost emergency home heating oil supply -sources

Kitco News

Nov 23 (Reuters) - The White House is weighing a plan to increase inventories in the Northeast Home Heating Oil Reserve amid concerns of a supply crunch that could drive up prices and punish inflation-fatigued consumers, according to three sources familiar with the discussions.

The plan could involve directing revenue from future crude oil sales of the Strategic Petroleum Reserve to purchase heating oil for the reserves, two of the sources said.

Reporting By Jarrett Renshaw and Timothy Gardner; Editing by Chris Reese
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.