Africa Business Radio

President Joe Biden reached for the US strategic oil reserves in an attempt to flatten fuel price rises pummeling Americans at Thanksgiving — and hoping to reignite his own political fortunes. The White House says the effort to tamp down the oil market by using emergency reserves was for the first time being done in conjunction with other countries, following weeks of negotiations. The White House in a statement says the release will be taken in parallel with other major energy-consuming nations including China, India, Japan, the Republic of Korea and the United Kingdom.