Oil release to address supply disruption: White House

Reuters News
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Posted: Jun 23, 2011 2:34 PM
Oil release to address supply disruption: White House

WASHINGTON (Reuters) - The coordinated release of oil reserves by the United States and other major industrialized nations is aimed at addressing a "sustained, significant disruption" in oil supplies caused by the Libya conflict, the White House said on Thursday.

"That disruption is as real today as it was several weeks ago," White House spokesman Jay Carney said aboard Air Force One headed for New York. "We're about to enter into a season where demand is at its highest," he said when asked about the effect on U.S. gasoline prices.

(Reporting by Laura MacInnis, writing by Matt Spetalnick)