US Sells Last Batch of Emergency Reserve Oil From Historic Release

US Sells Last Batch of Emergency Reserve Oil From Historic Release
The Phillips 66 gas station in Superior, Colo., on July 27, 2017. Rick Wilking/Reuters
Reuters
Updated:
0:00

WASHINGTON—The U.S. Department of Energy on Thursday said it sold 15 million barrels of oil from the Strategic Petroleum Reserve to six companies, completing the last batch of the largest-ever release from the stockpile announced by President Joe Biden in March.

The contracts were awarded to Phillips 66, Marathon Petroleum Supply and Trading LLC, Shell Trading (US), Valero Marketing and Supply, Macquarie Commodities Trading US, and Equinor Marketing and Trading, the Energy Department said in a statement. Deliveries will take place from Dec. 1 to Dec. 31.