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Senate OKs halting deliveries to U.S. oil reserve

Tue 13 May 2008, 16:15 GMT
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WASHINGTON, May 13 (Reuters) - The U.S. Senate voted on Tuesday to suspend oil deliveries to the country's Strategic Petroleum Reserve until crude prices fall below $75 a barrel, repudiating the Bush administration's policy of boosting the stockpile at time of record oil and gasoline prices.

The House of Representatives was expected later on Tuesday to vote on a similar measure that supporters believed would put more oil supplies in the market and help lower energy prices.

The Bush administration is against suspending the oil shipments, saying such a move would have little effect on cutting oil prices which hit a record of near $127 a barrel on Tuesday.

 
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