Sunday, 26 June 2011

Treasury: Geithner release political move oil (Reuters)

WASHINGTON (Reuters)-Treasury Secretary Timothy Geithner said on Friday that the decision to release oil reserves of the Government, the international community was not a political move.

The decision to release a total of 60 million barrels of oil reserves is designed to meet the shortfall caused in part by the crisis in Libya, Geithner said. Oil prices have risen due to political unrest in the Middle East and North Africa.

(Reporting by Rachelle Younglai)


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