US rejects ‘price triggers’ for SPR releases

摘要

Washington—As it seeks more flexibility from Congress to authorize releases from the US Strategic Petroleum Reserve, the Obama administration is not calling for any “price triggers” that would automatically prompt sales of crude, a key official said Wednesday. Such price triggers—aimed at quelling frothy markets—would be politically fraught, with the oil industry and its allies in Congress slamming any price-motivated SPR releases, perceived or otherwise, as interfering with US crude markets.