00:00It's Benzinga bringing Wall Street to Main Street.
00:02The Trump administration is offering to loan up to 315,000 barrels from the U.S. Emergency
00:07Heating Oil Reserve to curb rising prices driven by diesel shortages linked to the wars in Iran
00:13and Ukraine, according to Reuters. Diesel prices have reached record highs above $6.50 per gallon,
00:20prompting bipartisan calls to release heating oil supplies. The Department of Energy said
00:25retailers and terminal operators can bid for the loans, with deliveries scheduled to finish by
00:30November 13th. The move comes ahead of the November 3rd midterm elections, as heating costs become a key
00:37issue in several competitive Senate races. The administration has also agreed to loan 172
00:43million barrels of crude oil from the Strategic Petroleum Reserve. For all things money, visit
00:49Benzinga.com.
