Iranian Official Urges Trump Not to Use U.S. Strategic Oil Reserve - Bloomberg:
A senior Iranian oil official urged U.S. President Donald Trump not to use the nation’s Strategic Petroleum Reserve to push prices lower, and instead drop sanctions on Iran’s crude exports.
“My advice to you, Mr. President, is to avoid touching the SPR - to cool down and give up sanctioning Iranian oil," Hossein Kazempour Ardebili, Iran’s representative to OPEC, said by email.
The Trump administration is actively considering tapping into the nation’s emergency oil inventories as political pressure grows before congressional elections in November, according to people familiar with the matter. Trump is also trying to choke off Iran’s oil exports after quitting a nuclear deal with the country.
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