ReportedShipping, energy & marketsUnited States
U.S. Energy Department offers 40 million SPR barrels
- Mountain Time
- Local time
- 6:20 PM UTC
- Where
- United States
The U.S. Department of Energy will offer up to 40 million barrels of crude from the Strategic Petroleum Reserve through an exchange, OilPrice.com reported. The outlet described it as the final U.S. tranche of a 172-million-barrel coordinated IEA emergency release.
Why it matters
The additional supply is intended to ease crude and refined-fuel pressure, while reducing the U.S. emergency stockpile further during the Hormuz disruption.
Source
- OilPrice.comoilprice.comPublished
Confidence: Published by a named news organization. Not yet independently confirmed. About confidence labels