Fuel / NEWS UPDATE
U.S. Dips Into Strategic Oil Reserve Again Amid Supply Disruptions
Published · 1 min read
The United States has authorized an emergency exchange of up to 400,000 barrels from the Strategic Petroleum Reserve to Phillips 66's Lake Charles refinery, addressing a temporary disruption in crude deliveries.
This brings the reserve's levels to its lowest since 1982, with current stock at 282.7 million barrels. Oil prices have risen above $117 per barrel, and this authorization follows similar actions in October.