Conflicting reports on SPR release

Denied: White House denies Reuters report on agreement to release some strategic reserves

Conflicting reports emerged on Thursday about a bilateral agreement between the UK and the US to release strategic oil supplies in an effort to combat escalating fuel prices.

Reuters, citing two unnamed sources, reported on Thursday morning that the US was “shortly” expected to submit a formal request to the UK to join forces in a release of oil from government-controlled reserves.

The reported development came on the heels of a Wednesday meeting in Washington between President Barack Obama and Prime Minister David Cameron.

The two leaders discussed the issue at the meeting, one source told Reuters. Two sources told the news wire that Britain would respond positively to the request.

The news wire also reported that a detailed agreement was expected by the summer, citing one…

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