[The U.S. Plans to Loan About One-Third of Its Heating Oil Reserves to Curb Rising Oil Prices] According to a report by Jinse Finance, on October 22, the U.S. Department of Energy stated on Wednesday that the Trump administration proposed loaning nearly one-third of the 1 million barrels of emergency heating oil reserves in an effort to curb surging oil prices. The composition of heating oil is similar to diesel, and diesel prices have hit a historic high of over $6.50 per gallon due to supply disruptions in the Middle East caused by the Iran war. A source from the department said the government will assess whether further releases of heating oil from the reserves are necessary. U.S. Energy Secretary Wright stated that the government is "committed to doing everything possible to lower energy costs." The department noted that it will conduct a loan bidding process targeting fuel retailers and end-users to ensure that fuel reaches regions facing shortages.