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.

Source: Investing.com