Oil Jumps After IEA Declares 'Mission Accomplished' On Emergency Oil Release

oil refinery

Photo: mikebaird on Flickr

Quick heads up: It looks like that emergency release of oil from a few weeks ago will be it.The IEA said this morning that it doesn’t plan to release any more oil, claiming the tightness in the market is alleviated.

That may be true, but a barrel of oil is at $99, so there’s been no success at the pump.

Oil prices have jumped on the news.

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