The DOE said the Trump administration plans to lend nearly one-third of the 1.0
mln-barrel emergency heating oil reserve to ease upward pressure on oil/diesel
prices. Heating oil is similar in composition to diesel; diesel has surged above
$6.50/gal amid Middle East supply disruption tied to the Iran war. The DOE said
it will assess whether further releases are needed and will run a loan bid
program for fuel retailers and end holders to direct supply to shortage-hit
regions. Energy Secretary Wright said the administration is committed to doing
everything possible to lower energy costs.
