The U.S. Department of Energy (DOE) on Thursday said all "tools are always on the table" to tackle tight energy supply conditions in the market.

The department made the comment amid questions about whether the Biden administration is considering tapping into its strategic petroleum reserves (SPR) or pursuing a ban on oil exports to bring down the cost of crude oil.

Oil prices have climbed to over $80 a barrel due to a recovery in global energy demand since the depths of the coronavirus pandemic, and production restrictions by the OPEC producer group.

"DOE is actively monitoring global energy market supply and will work with our agency partners to determine if and when actions are needed," a spokesperson said.

The Financial Times on Wednesday quoted U.S. Energy Secretary Jennifer Granholm as saying that the administration is considering tapping the SPR, while also not ruling out a ban on crude oil exports.

Oil prices turned positive on Thursday, however, after a Bloomberg reporter said in a Twitter post that the DOE is not considering tapping into its emergency reserves "at this time," nor pursuing a ban on oil exports.

A DOE source said the tweet "is not accurate."

The United States has used its strategic reserves on occasion, usually after hurricanes or other supply disruptions.

Since ending a 40-year ban on crude exports in 2015, the nation has become a significant exporter, and has not broached cutting exports.

Pain at the Pump

Meanwhile, Breitbart reports that the prices of gas at the pump is the highest it has been in the U.S. in seven years. In some places, it is as high as $5 a gallon. In California, it is averaging $4.42 a gallon, and in the current edition of Newsmax magazine, Ben Stein says that in Southern California, premium is costing $6.50 a gallon.

Breitbart says a main reason for the higher prices is OPEC's decision not to incrase oil output.

"I cannot bring myself to buy an electric car because I do not want to have to wait hours for a refill if I run low on the highway," Stein writes. "But my Audi burns gasoline at a rate that's breathtaking. To be honest, it also has a super powerful twin turbo V8, and it goes like a bat out of hell. So, I pay the price."