Updated Dec. 31, 2023 2:36 pm ET
Head of state. Commander in chief. Oil-trading whale?
President Biden’s unprecedented release of oil from the U.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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