White House: US will continue to press OPEC and oil companies on supply and price

“US will continue to press OPEC and oil companies on supply and price of oil,” said White House Press Secretary Jen Psaki, per Reuters, during late Monday night.

The White House official added that the US has talked with other countries on oil supply while also mentioning that the US continues to consider options on oil.

Additional quotes

Nothing to preview today on SPR (Strategic Petroleum Reserve) release.

US President Joe Biden hopes to make decisions on other fed posts soon.

On a different, Bloomberg shared comments from White House Economic Advisor Brian Deese saying, “Expect Biden to address gas prices in coming days.”

“Feel good about reaction to Powell, Brainard,” adds the diplomat per Bloomberg.

FX reaction

Having reacted positively to the news that Jerome Powell is nominated by US President Biden for a second term as the Fed Chair, the optimists seem to catch a breather ahead of the preliminary PMIs for November.

Read: WTI on the verge of a significant break to the downside