US buys 6 million barrels of oil for Strategic Petroleum Reserve

WASHINGTON (Reuters) – The U.S. has bought 6 million barrels of oil for the Strategic Petroleum Reserve for delivery through May of 2025, the Department of Energy said on Monday.

The purchases are part of an effort to replenish after President Joe Biden ordered the largest ever sale from the reserve in 2022 of 180 million barrels in an effort to control fuel prices following Russia’s invasion of Ukraine.

This post is originally published on INVESTING.

  • Related Posts

    Kazakhstan votes on whether to build first nuclear plant

    ALMATY (Reuters) – Kazakhstan votes in a referendum on Sunday on whether to build its first nuclear power plant, an idea promoted by President Kassym-Jomart Tokayev’s government as the Central…

    Oil settles up, biggest weekly gains in over a year on Middle East war risk

    By Shariq Khan NEW YORK (Reuters) -Oil prices rose on Friday and settled with their biggest weekly gains in over a year on the mounting threat of a region-wide war…

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    You Missed

    Kazakhstan votes on whether to build first nuclear plant

    • October 6, 2024
    Kazakhstan votes on whether to build first nuclear plant

    Factors Driving Exchange Rates

    • October 5, 2024
    Factors Driving Exchange Rates

    How Central Bank Digital Currencies Could Transform Payments?

    • October 5, 2024
    How Central Bank Digital Currencies Could Transform Payments?

    The Essential Guide to Currency Pairs for Confident Forex Trading

    • October 5, 2024
    The Essential Guide to Currency Pairs for Confident Forex Trading

    Weekly Focus: Czechia Will not Regulate Prop Demo Accounts, Saxo Exits Hong Kong, and More

    • October 5, 2024
    Weekly Focus: Czechia Will not Regulate Prop Demo Accounts, Saxo Exits Hong Kong, and More

    Oil settles up, biggest weekly gains in over a year on Middle East war risk

    • October 4, 2024
    Oil settles up, biggest weekly gains in over a year on Middle East war risk