US Energy Secretary: Looking for additional oil storage capacities around the country

Eren Sengezer FXStreet

US President Trump has directed him to look for additional oil storage capacities around the country, including commercial, US Energy Secretary Dan Brouillette told Fox Business Network on Monday.

When asked about possible tariffs on foreign oil, Brouillette noted that all options were still on the table.

Brouillette further added that he was expecting Saudi Arabia to arrange a G20 energy ministerial meeting by the end of the week.

Crude oil reaction

The barrel of West Texas Intermediate largely ignored these comments and was last seen trading at $27.65, losing 4% on a daily basis.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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