A Department of Energy official also tells cbs the Secretary has been in regular contact with the president
Reports of closer-than-usual contact between the Energy Secretary and the President tend to surface around two specific channels: activation of the Strategic Petroleum Reserve and intervention in utility or refining hurdles.
A Department of Energy official also tells cbs the Secretary has been in regular contact with the president
Primer: US to sell USD 70bln of 5-year notes at 18:00BST/13:00EDT
US Treasury Secretary Bessent after meeting with Chin'a He, says we're fine with either continuing Busan arrangement or examining bigger deal
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In past episodes, similar 'regular contact' framing by officials has preceded either inventory policy action or coordination with international bodies on supply. The distinction that matters is between routine messaging and an escalation in policy direction, since department-to-WhiteHouse proximity on energy has historically meant either reserves diplomacy or a domestic supply push, each with different transmission into crude and product spreads. Traders have tended to treat these remarks as signal-rather-than-substance until a specific policy instrument is named. What is worth watching next is whether subsequent statements identify a mechanism, reserves, tariffs, or permitting, which determines forward-curve versus prompt-curve response.
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