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Analysts Speculating Over Release of Oil from SPR

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  • Description

    FBN's Peter Barnes on unrest in the Middle East and oil.

  • Duration 1:46
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-- much the violence in the Middle East region causing the price of oil to hover around a hundred dollars a barrel.

As analysts wonder if the unrest could calls the Obama administration to tap our nation's oil -- -- Let's go to Peter Bernstein IDC right now with more Peter.

-- they McConnell new protests against the US began and Afghanistan Pakistan Libya Lebanon and Indonesia today over that anti Islamic film.

The president of Libya now says that the attack a week ago.

On the US consulate in -- Ghazi was a planned assault possibly organized by a group with ties to al-Qaeda as an act of revenge but the US continues to say that the assault was spontaneous.

And unrelated to the eleventh anniversary of the 9/11 attacks.

And the best information in the best assessment we have today.

Is that in fact this was not a pre planned premeditated.

Attack.

That what happened initially was it it was a spontaneous.

Reaction.

And as you mentioned -- gasoline prices remain elevated in part over Middle East tensions including new disagreements between the US and Israel.

Over responding to Iran's nuclear program.

That is fueled new speculation that the president may tap the strategic petroleum reserve seven weeks before Election Day but one energy executive says oil supplies are adequate.

There are many.

Political reasons to draw down the strategic petroleum reserve.

-- they're really know strategic reasons to draw down.

The past few are based on fundamentals keep reminded that this a strategic petroleum reserve.

Not a political expediency petroleum reserve.

The White House continues to say that tapping the reserve remains an option they're getting -- Thank you --

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