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UK to help US in oil reserve release


economy

UK to help US in oil reserve release

Britain is set to lend a hand to the United States with the release of strategic oil reserves.

President Obama and Prime Minister Cameron have been discussing the issue at meetings in Washington.

Impending sanctions on Iran have pushed crude prices up by 15 per cent since January.

A coordinated strategic release of reserves could slow rising fuel costs that are threatening the fragile US economic recovery.

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