Europe starts stockpiling oil as Iran conflict looms
http://www.euractiv.com/energy/europe-starts-piling-oil-iran-wa-news-514340Oil rises; US considers release from reserves
http://www.businessweek.com/ap/2012-08-17/oil-rises-us-considers-release-from-reserves
Hmmm.. US and EU seem at cross-purposes.
White House’s emergency oil release plans met with stiff opposition
President Barack Obama faced stiff resistance to the possibility of releasing emergency oil reserves to dampen down prices on Friday, with key Asian allies and the head of the West’s energy agency rejecting any need for action.
A day after Reuters reported that the White House was “dusting off” plans for potentially tapping the Strategic Petroleum Reserve (SPR), Maria van der Hoeven, the executive director of the International Energy Agency, was blunt in her assessment: “There is no reason for a release.”
http://www.theglobeandmail.com/report-on-business/industry-news/energy-and-resources/white-houses-emergency-oil-release-plans-met-with-stiff-opposition/article4486559/
Traders Say Obama Could Use Oil Reserves For Political Gain
http://www.cnbc.com/id/48706505
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