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Obama Aide Says Using Petroleum Reserve Is an ‘Option’

The Obama administration is monitoring oil markets and a release from the nation’s Strategic Petroleum Reserve remains “an option that is on the table” if prices rise or supply is disrupted, said Josh Earnest, a White House spokesman.

“The administration does carefully monitor the global oil market” because of its impact on the economy, Earnest said at a briefing today. No decision has been made and he refused to say whether there is active discussion about the reserve.