U.S. says it is discussing further coordinated oil release with allies

The United States and its allies are discussing a possible further coordinated release of oil from storage to help calm oil markets in the wake of Russia’s invasion of Ukraine, U.S. energy secretary Jennifer Granholm said on Thursday.

“With respect to the emergency stockpiles, these are ongoing discussions and all those tools are certainly on the table,” Granholm told reporters at a news conference at the headquarters of the International Energy Agency in Paris.