U.S. Offers Another 17 Million SPR Barrels as Fuel Crisis Deepens
The United States is putting another 17 million barrels of crude from the Strategic Petroleum Reserve on offer, one day after the IEA accelerated emergency stock releases as governments scramble to get more oil and fuel into a tight market. The Department of Energy issued a request for proposals Fri
Source: OilPrice.com
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DW NOTE
The administration has now drawn 197 million barrels from the SPR since the Hormuz closure in February — more than a third of the reserve's pre-crisis capacity. At current burn rates, the SPR will reach minimum operational levels by mid-December, leaving the U.S. functionally unable to buffer further supply shocks while oil trades 70% above year-ago levels.