- Analytics
- News and Tools
- Market News
- US Department of Energy has requested to meet with refiners about prices by June 21
US Department of Energy has requested to meet with refiners about prices by June 21
The US Department of Energy has requested to meet with refiners to discuss prices no later than June 21, Reuters reported, citing sources with knowledge of the matter.
The sources also reported that the US Energy Secretary has requested a meeting with refining executives about gas prices no later than June 21.
This comes after US President Joe Biden wrote to energy refiners on Wednesday, asking them to explain why they are not putting more fuel on the market as they reap windfall profits. Biden is under immense political pressure over sky-high gasoline prices.
Exxon Mobil, in response to repeated calls from the US administration, said: We’ve been investing through the downturn to increase refining capacity…kept investing even during the pandemic when we lost >$20B and had to borrow >$30B to maintain investment to increase capacity to be ready for post-pandemic demand.”
Related reads
- US President Biden asks Energy Secretary to hold emergency meeting on oil refining capacity
- WTI oscillates around $116.00, downside looks likely on Fed’s mega rate hike announcement
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
