{"id":15262,"date":"2023-03-24T11:17:30","date_gmt":"2023-03-24T11:17:30","guid":{"rendered":"https:\/\/www.africa-press.net\/eritrea\/all-news\/oil-up-over-supply-uncertainties-as-us-to-delay-refilling-emergency-stocks"},"modified":"2023-03-24T11:38:13","modified_gmt":"2023-03-24T11:38:13","slug":"oil-up-over-supply-uncertainties-as-us-to-delay-refilling-emergency-stocks","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/eritrea\/all-news\/oil-up-over-supply-uncertainties-as-us-to-delay-refilling-emergency-stocks","title":{"rendered":"Oil up over supply uncertainties as US to delay refilling emergency stocks"},"content":{"rendered":"

Africa-Press – Eritrea. <\/strong><\/span>Oil prices increased slightly on Friday in a volatile trading session over supply uncertainties after the US said refilling its Strategic Petroleum Reserve (SPR) may take several years.<\/p>\n

International benchmark Brent crude traded at $75.93 per barrel at 0657GMT, a 0.02% increase from the closing price of $75.91 a barrel in the previous trading session.<\/p>\n

At the same time, American benchmark West Texas Intermediate (WTI) traded at $70.02 per barrel, a 0.08% rise after the previous session closed at $69.96 a barrel.<\/p>\n

Price fluctuations were triggered by supply uncertainties as Energy Secretary Jennifer Granholm said the US\u2019 Strategic Petroleum Reserve (SPR) will not be filled in short time contrary to an earlier statement to purchase oil for SPR when prices fall under $70 a barrel.<\/p>\n

“This year, it will be difficult for us to take advantage of this low price,” Granholm told US lawmakers.<\/p>\n

“But we will continue to look for that low price into the future because we intend to be able to save the taxpayer dollars,” she said.<\/p>\n

Granholm\u2019s statement came despite US President Joe Biden\u2019s pledge in October to stop purchasing oil to refill the SPR as long as prices fall below $70 per barrel, raising fears of an oversupply in the market.<\/p>\n

Meanwhile, adding more to these fears, Russian Deputy Prime Minister Alexander Novak said earlier this week that Moscow will continue production cut of 500,000 barrels per day of oil until the end of June, falling short of the market expectations for further cuts.<\/p>\n

For More News And Analysis About Eritrea<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Eritrea. Oil prices increased slightly on Friday in a volatile trading session over supply uncertainties after the US said refilling its Strategic Petroleum Reserve (SPR) may take several years. International benchmark Brent crude traded at $75.93 per barrel at 0657GMT, a 0.02% increase from the closing price of $75.91 a barrel in the […]<\/p>\n","protected":false},"author":84,"featured_media":15261,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[242,243,1215,233,1217,1216],"class_list":["post-15262","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-eritrea","tag-brent","tag-eritrea","tag-oil-prices","tag-wti"],"yoast_head":"\nOil up over supply uncertainties as US to delay refilling emergency stocks - Eritrea<\/title>\n<meta name=\"description\" content=\"Oil prices increased slightly on Friday in a volatile trading session over supply uncertainties after the US said refill ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/eritrea\/all-news\/oil-up-over-supply-uncertainties-as-us-to-delay-refilling-emergency-stocks\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Oil up over supply uncertainties as US to delay refilling emergency stocks\" \/>\n<meta property=\"og:description\" content=\"Oil prices increased slightly on Friday in a volatile trading session over supply uncertainties after the US said refill ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/eritrea\/all-news\/oil-up-over-supply-uncertainties-as-us-to-delay-refilling-emergency-stocks\" \/>\n<meta property=\"og:site_name\" content=\"Eritrea\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-24T11:17:30+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-24T11:38:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/eritrea\/sites\/27\/2023\/03\/postQueueImg_1679640505.90.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"864\" \/>\n\t<meta property=\"og:image:height\" content=\"486\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/oil-up-over-supply-uncertainties-as-us-to-delay-refilling-emergency-stocks#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/oil-up-over-supply-uncertainties-as-us-to-delay-refilling-emergency-stocks\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Oil up over supply uncertainties as US to delay refilling emergency stocks\",\"datePublished\":\"2023-03-24T11:17:30+00:00\",\"dateModified\":\"2023-03-24T11:38:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/oil-up-over-supply-uncertainties-as-us-to-delay-refilling-emergency-stocks\"},\"wordCount\":266,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/oil-up-over-supply-uncertainties-as-us-to-delay-refilling-emergency-stocks#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/eritrea\/sites\/27\/2023\/03\/postQueueImg_1679640505.90.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Eritrea\",\"Brent\",\"Eritrea\",\"oil prices\",\"WTI\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/eritrea\/all-news\/oil-up-over-supply-uncertainties-as-us-to-delay-refilling-emergency-stocks#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/oil-up-over-supply-uncertainties-as-us-to-delay-refilling-emergency-stocks\",\"url\":\"https:\/\/www.africa-press.net\/eritrea\/all-news\/oil-up-over-supply-uncertainties-as-us-to-delay-refilling-emergency-stocks\",\"name\":\"Oil up over supply uncertainties as US to delay refilling emergency stocks - 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