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Strategic Petroleum Reserve
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U.S. Energy Secretary Chris Wright says another round of crude loans from the Strategic Petroleum Reserve is a “very real possibility” amid higher oil prices and steep futures backwardation.
The Department of Energy has already loaned over 130 million barrels from the 172 million-barrel drawdown authorized in March, with approximately 38.5 million barrels still available.
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U.S. Energy Secretary Wright: Expects Saudi East-West oil pipeline to be operational "soon"
U.S. Energy Secretary Chris Wright stated on Bloomberg Surveillance that the East-West oil pipeline in Saudi Arabia, which runs to the Red Sea, is expected to be operational "soon." He also discussed
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Stephen Schork: Replenishing US Strategic Petroleum Reserve with Venezuelan Oil Is "Pure Fantasy"
Stephen Schork stated that replenishing the U.S. Strategic Petroleum Reserve (SPR) with Venezuelan oil is "pure fantasy." He also discussed U.S. refining capacity and SPR levels.
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IEA Chief Birol: Not Discussing a Second Release of Strategic Oil Reserves at This Time
IEA Chief Birol: Not Discussing a Second Release of Strategic Oil Reserves at This Time
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US crude oil exports have dropped amid stretched inventories and flat production, with the Strategic Petroleum Reserve falling to a 43-year low.
The decline in exports is also attributed to continuing uncertainty over the Iran conflict, potentially impacting importers like Japan that had sought alternatives to Middle East procurement.
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Escalating U.S.-Iran Tensions Push Oil Prices Back Above $80; U.S. Energy Secretary Says No Further Large-Scale Release of Strategic Petroleum Reserve (SPR) Is Expected
As tensions between the U.S. and Iran continue to escalate, the crude oil market is under upward pressure, with benchmark futures prices having returned to above $80 per barrel. U.S. Energy Secretary
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Crude oil stocks in the U.S. Strategic Petroleum Reserve fell to 311.4 million barrels last week, the lowest level since 1983.
Svmuu News: Crude oil stocks in the U.S. Strategic Petroleum Reserve fell by approximately 5.1 million barrels last week, dropping to 311.4 million barrels—the lowest level since 1983. (Jin Shi)
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U.S. EIA Strategic Petroleum Reserve inventory for the week ending June 12: -8.941 million barrels, compared with the previous reading of -7.927 million barrels
Svmuu News: U.S. EIA Strategic Petroleum Reserve inventories for the week ending June 12 stood at -8.941 million barrels, compared to the previous reading of -7.927 million barrels. U.S. EIA crude oil
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U.S. EIA Strategic Petroleum Reserve Stocks for the Week Ending June 5: -7.927 million barrels, compared to a previous value of -7.993 million barrels
Svmuu News: U.S. EIA Strategic Petroleum Reserve stocks for the week ending June 5 decreased by 7.927 million barrels, the lowest since the week ending August 18, 2023, compared to a previous decrease
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U.S. Energy Secretary Chris Wright says another round of crude loans from the Strategic Petroleum Reserve is a “very real possibility” amid higher oil prices and steep futures backwardation.
The Department of Energy has already loaned over 130 million barrels from the 172 million-barrel drawdown authorized in March, with approximately 38.5 million barrels still available.
-
U.S. Energy Secretary Wright: Expects Saudi East-West oil pipeline to be operational "soon"
U.S. Energy Secretary Chris Wright stated on Bloomberg Surveillance that the East-West oil pipeline in Saudi Arabia, which runs to the Red Sea, is expected to be operational "soon." He also discussed
-
Stephen Schork: Replenishing US Strategic Petroleum Reserve with Venezuelan Oil Is "Pure Fantasy"
Stephen Schork stated that replenishing the U.S. Strategic Petroleum Reserve (SPR) with Venezuelan oil is "pure fantasy." He also discussed U.S. refining capacity and SPR levels.
-
IEA Chief Birol: Not Discussing a Second Release of Strategic Oil Reserves at This Time
IEA Chief Birol: Not Discussing a Second Release of Strategic Oil Reserves at This Time
-
US crude oil exports have dropped amid stretched inventories and flat production, with the Strategic Petroleum Reserve falling to a 43-year low.
The decline in exports is also attributed to continuing uncertainty over the Iran conflict, potentially impacting importers like Japan that had sought alternatives to Middle East procurement.
-
Escalating U.S.-Iran Tensions Push Oil Prices Back Above $80; U.S. Energy Secretary Says No Further Large-Scale Release of Strategic Petroleum Reserve (SPR) Is Expected
As tensions between the U.S. and Iran continue to escalate, the crude oil market is under upward pressure, with benchmark futures prices having returned to above $80 per barrel. U.S. Energy Secretary
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Crude oil stocks in the U.S. Strategic Petroleum Reserve fell to 311.4 million barrels last week, the lowest level since 1983.
Svmuu News: Crude oil stocks in the U.S. Strategic Petroleum Reserve fell by approximately 5.1 million barrels last week, dropping to 311.4 million barrels—the lowest level since 1983. (Jin Shi)
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U.S. EIA Strategic Petroleum Reserve inventory for the week ending June 12: -8.941 million barrels, compared with the previous reading of -7.927 million barrels
Svmuu News: U.S. EIA Strategic Petroleum Reserve inventories for the week ending June 12 stood at -8.941 million barrels, compared to the previous reading of -7.927 million barrels. U.S. EIA crude oil
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U.S. EIA Strategic Petroleum Reserve Stocks for the Week Ending June 5: -7.927 million barrels, compared to a previous value of -7.993 million barrels
Svmuu News: U.S. EIA Strategic Petroleum Reserve stocks for the week ending June 5 decreased by 7.927 million barrels, the lowest since the week ending August 18, 2023, compared to a previous decrease
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Strategic Petroleum Reserve
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