Report that the US Energy dept plans to lease space to firms to store oil

Reuters citing unnamed source for the report.

• The US Energy Department plans to lease space for energy companies to store crude oil in the UIS Strategic Petroleum Reserve

A whole new meaning to pump and dump.

There has been plenty of news on oil already this morning during the time zone, this of note:

• ICYMI from Trump - says Russia and Saudi are talking on oil

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Oil prices have plunged, inventory has surged. US shale oil producers are facing very tough times at the prices being set for oil at present. Of course, consumers should be benefitting but the lock downs has seen demand plummet.