Over 10 years we help companies reach their financial and branding goals. Maxbizz is a values-driven consulting agency dedicated.




411 University St, Seattle


Oil Prices Rise as US Plans to Tap Oil Reserves – Investopedia

Oil prices are on the rise as the U.S. plans to release more crude oil from its Strategic Petroleum Reserve. Light sweet crude ended yesterday up 3.3% at about $85 per barrel. 
The President said the U.S. would release 15 million more barrels of oil from the reserve, which would be the last sale from the planned sale of 180 million barrels of oil announced shortly after Russia invaded Ukraine in February.
President Biden signaled that when oil falls below $70 per barrel, the administration would begin buying back oil to refill the reserves. SPR levels have fallen to just over 400 million barrels, down about 40% from its usual reserve levels and the lowest since 1984. President Biden also said he will consider more reserve sales this winter.
Oil prices have been rising since OPEC and its allies agreed to cut production by roughly 2 million barrels a day. Gas prices have started to drop in the last week, but the national average for a gallon of gas is 20 cents higher than it was a month ago, according to AAA, with average gas prices about 56 cents higher than a year ago.
When you visit the site, Dotdash Meredith and its partners may store or retrieve information on your browser, mostly in the form of cookies. Cookies collect information about your preferences and your devices and are used to make the site work as you expect it to, to understand how you interact with the site, and to show advertisements that are targeted to your interests. You can find out more about our use, change your default settings, and withdraw your consent at any time with effect for the future by visiting Cookies Settings, which can also be found in the footer of the site.



Joseph Muongi

Financial.co.ke was founded by Mr. Joseph Muongi Kamau. He holds a Master of Science in Finance, Bachelors of Science in Actuarial Science and a Certificate of proficiencty in insurance. He's also the lead financial consultant.