US may release oil reserves, no market intervention

Treasury Secretary Scott Bessent indicated that the U.S. is considering releasing further oil reserves to help depress prices, but stated there will be no direct intervention in financial markets related to oil. This potential reserve release aims to influence crude oil prices by increasing supply. The U.S. has previously utilized its Strategic Petroleum Reserve to stabilize energy markets during periods of high prices or supply disruptions. The announcement suggests a focus on managing energy costs through supply-side measures rather than direct financial market manipulation.