U.S. Treasury Secretary Timothy Geithner said Friday that the International Energy Agency’s decision this week to release government-held crude oil reserves was “sensible policy.”

“It will provide some modest help and relief” to the U.S. economy, Geithner told reporters after meeting local business leaders in Manchester, New Hampshire. “It was a prudent use of existing reserves.”

The Paris-based IEA Thursday said it would tap member countries’ emergency reserves — some 60 million barrels over 30 days — for only the third time since it was founded in 1974, to fill the gap in supplies left by the disruption to Libya’s output.

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