Not time to tap US oil reserve--Treasury&#39;s Snow
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WASHINGTON, Aug 20  - US Treasury Secretary John Snow said on Friday there had not yet been a large enough disruption to the supply of oil to warrant a decision to tap the US Strategic Petroleum Reserve.
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Oil&#39;s advance wavered a little on Friday as the US government prepared to lend out some strategic crude stocks, but traders said the amounts were small and that supply worries remained.
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NEW YORK, Sept 23  - Oil prices edged closer to record territory Thursday as markets shrugged off news that the US government may draw from its strategic reserves to make up for shortages due to Hurricane Ivan.
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Crude oil in New York fell from a one-month high after the White House said the US may loan oil to refineries from the Strategic Petroleum Reserve to make up for supply disruptions caused by Hurricane Ivan.
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John Snow, United States&#39; Treasury secretary, yesterday said the US government had told the Russian government that the world needed Yukos to keep pumping oil.
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Oil costing roughly $53 a barrel is a major drag on the US economy, and Arab finance ministers have told the Bush administration they are committed to bringing the price down, Treasury Secretary John Snow said Sunday.
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Oil prices fell more than a dollar to  under $43 a barrel on Monday as unusually mild winter weather  in the United States eased fears that thin heating fuel  stockpiles could prove inadequate.
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: Oil prices searched for direction today, supported by worries of a cold snap in the Western Hemisphere but weakened by selling on the bet that OPEC&#39;s decision to cut production would not end short-term oversupply.
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Is the recent fall in oil prices a turning point or merely a lull before demand picks up in the winter months?
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US oil prices have raced towards $46 a barrel after Russia&#39;s YUKOS suspended some oil exports to China and as traders remain concerned about storm-related supply disruptions into the United States.
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Treasury Secretary John Snow said on Tuesday that, notwithstanding weaker consumer confidence, he did not think the US economy was at risk of a slowdown.
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U.S. Treasury Secretary John Snow on  Friday said higher oil prices were a risk to global growth, but  were unlikely to trigger a recession.
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High-flying oil prices paused in their  ascent on Thursday as the U.S. government considered whether to  loan out crude from its strategic petroleum reserve after  Hurricane Ivan sliced into supplies.
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WASHINGTON  - US Treasury Secretary John Snow said a strong dollar is the &quot;rock solid foundation&quot; of US policy, but its value is best set in open currency markets.
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US oil prices have fallen by 5%, driven down by forecasts of a mild winter in the densely populated northeast. Light crude oil futures fell $2.25 to just below $42 a barrel on the New York Mercantile Exchange (Nymex), and have now lost $4 in five days.
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Record prices for oil are taxing the disposable income of US consumers and threatening to hinder economic growth, Treasury Secretary John Snow said.
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DES MOINES, Iowa, Aug 20  - High foreign ownership of US debt is &quot;a healthy situation&quot; and the dollar will remain the world&#39;s preferred reserve currency, Treasury Secretary John Snow said on Friday.