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The Latest Breaking News from SPR

Republicans Criticize Biden Administration's Oil Purchase For SPR

The Biden administration's recent oil purchase for the Strategic Petroleum Reserve has sparked debate among lawmakers over its implications and strategic i...

Top News

Energy Department Turns Ordinary Gasoline Sale Into Major Announcement

Congress forced the government to sell gasoline from the Strategic Petroleum Reserve, an obligation the Biden administration is now bragging about fulfilling.

Reason

What are the Most Bullish Factors for Crude Oil?

After declining in 2023, crude oil prices rallied in Q1 2024 and have edged even higher in the early days of Q2. Crude oil remains the energy commodity that powers the world, and the price prospects over the coming months will remain bullish as markets reflect the economic and geopolitical…

Barchart

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Oil Prices Steady For Week As DOE Pledges SPR Refill By Year End

Oil prices were little changed for the week despite a tightening supply/demand picture. DOE pledges to refill SPR by year end.

Investors Business Daily

Crude Oil and the U.S. SPR

The U.S. SPR has dropped steadily and stood at the lowest level since October 1983 on April 14, 2023. The Biden administration authorized an unprecedented SPR release and sale following Russia’s invasion of Ukraine that drove crude oil prices to over $130 per barrel in March 2022, the highest price…

Barchart

Biden’s push to refill the nation’s oil reserve is in limbo as strategists warn of a ‘supercycle’ that could make crude too costly

Refilling the reserve now could be expensive because of high oil prices. But waiting could be risky if there's another oil price shock.

Fortune

Oil prices dive as Biden weighs massive reserves release

SINGAPORE: Oil prices dived more than $5 a barrel on Thursday as the United States is considering the release of up to 180 million barrels from its strategic petroleum reserve (SPR) over several months to calm soaring crude prices.

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