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Meet America's Newest Oil Trader Extraordinaire: Joe Biden - The Wall Street Journal

The Wall Street Journal · last updated

Meet America’s Newest Oil Trader Extraordinaire: Joe Biden - WSJ

Dec. 31, 2023 5:30 am ET

Head of state. Commander in chief. Oil-trading whale?

President Biden’s unprecedented release of oil from America’s petroleum reserves in 2022 turned the White House into an unusually active player in the volatile crude market. The flood of emergency supplies helped arrest surging oil prices after Russia invaded Ukraine, and pulled billions of dollars into the Energy Department’s coffers in the process.

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