US Releases Oil from Strategic Reserve to Combat Soaring Gas Prices

The U.S. government is loaning 53 million barrels of oil from the Strategic Petroleum Reserve (SPR) to petroleum companies in an effort to alleviate elevated gas prices across the nation.

12 May, 21:20 — 12 May, 21:20

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zerohedgeLow107d ago

US Unleashes Another Wave Of Crude From Strategic Reserve As Gas Prices Soar

US Unleashes Another Wave Of Crude From Strategic Reserve As Gas Prices Soar The U.S. government will loan 53 million barrels of oil from the Strategic Petroleum Reserve (SPR) to petroleum companies in a bid to relieve elevated gas and oil prices amid the conflict with Iran. In a news release on Monday, the Department of Energy (DOE) announced it would release the crude oil from its sites in Louisiana and Texas to contribute to the International Energy Agency’s (IEA’s) move t...

By Tyler Durden

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US Releases Oil from Strategic Reserve to Combat Soaring Gas Prices

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US Unleashes Another Wave Of Crude From Strategic Reserve As Gas Prices Soar

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