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US to release 50 million barrels of oil to ease energy costs

FILE - President Joe Biden speaks as he announces that he is nominating Jerome Powell for a second four-year term as Federal Reserve chair, during an event in the South Court Auditorium on the White House complex in Washington, Monday, Nov. 22, 2021. The White House on Tuesday said it had ordered 50 million barrels of oil released from strategic reserve to bring down energy costs. (AP Photo/Susan Walsh, File)