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The last batch of US SPR release oil has been sold.  Biden said he was ready to release more.


Via Reuters with a bit of catch-up:

  • The US Department of Energy announced on Thursday that it had sold 15 million barrels of oil from the Strategic Petroleum Reserve
  • complete the last batch of the largest release ever from the reserve

And add…

  • But the selloff also bled the SPR, meant to protect against shocks in energy markets, to its lowest level since May 1984.
  • Biden said Oct. 19 that the United States was ready to tap into the SPR again early next year to rein in prices.


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