U.S. Seeks Exchange of Up to 17 Million Barrels From Strategic Reserve as Energy Pressures Mount
The United States has solicited bids for an exchange of up to 17 million barrels of crude from the Strategic Petroleum Reserve, according to Reuters, in a move that underscores Washingtonās effort to cushion fuel markets amid renewed supply stress. The solicitation comes as traders weigh hurricane risk, geopolitical uncertainty tied to Iran, and the limited flexibility of a reserve that has already been heavily drawn down in recent years.
