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Oil reserves could be tapped if prices stay above $100 a barrel

Posted on 30 August 2012

Emergency oil reserves across the world could be tapped if prices remain above $100 a barrel over the next two months, according to Treasury sources. World leaders have become increasingly concerned about the toll to economic growth dealt by the 20pc spike in oil prices over the past three months.
In June, Brent crude was trading at about $90 a barrel but has since soared back above $110 – threatening another bout in inflation that could derail recovery hopes in the UK as well as elsewhere………………………………………..Full Article: Source


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