US to Loan Up to 315,000 Barrels From Heating Oil Reserve

The US Department of Energy will loan up to 315,000 barrels from the 1-million-barrel Northeast Home Heating Oil Reserve to curb soaring energy prices. Supplies will be released from facilities in Maine, Massachusetts, and Connecticut via competitive bidding, with deliveries scheduled for completion by November 13. The intervention comes as retail diesel and heating fuel prices surpassed record highs of $6.50 per gallon amid supply disruptions linked to conflict in Iran. To further address regional energy shortfalls, the administration also released up to $42 million under the Defense Production Act for the Constitution pipeline.