Oil and Gas Markets
Learn about the international crude-oil trade and the Strategic Petroleum Reserve.
Transcript
Oil and gas play an important role in everyday life, from powering vehicles to warming homes and businesses. Beyond providing a valuable energy source, oil and gas are also a key part of the United States’ economy. However, oil and gas markets are extremely volatile. Also, the United States depends on oil from foreign countries to meet consumer demands and keep oil prices low. The volatility of the oil market and the United States’ reliance on foreign oil can create economic downturns and oil...