The U.S.emergency crude oil stockpile fell by 4.6 million barrels last weekto its lowest level since May 1985, according to the Department of Energy on Monday.
Crude held in the Strategic Petroleum Reserve dropped to 469.9 million barrels for the week ended July 29, according to DOE data, in the smallest weekly withdrawal sinceMay. All the barrels sold during the week were sour crude oil.
U.S. President Joe Biden in March set a plan to release 1 million barrels per day over six months from the SPR to tackle high fuel prices that have contributed to soaring inflation.U.S. gasoline prices are about 40 cents a gallon lower than what they would have been without the sales, theSince May, releases have averaged 880,000 bpd. The oil is sold to accredited oil companies via online auctions.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Apple Just Patched 37 iPhone Security BugsPlus: A Google Chrome patch licks the DevilsTongue spyware, Android’s kernel gets a tune-up, and Microsoft fixes 84 flaws.
Les mer »
Mexican Army Arrests 37 Cartel Gunmen During Coastal State RaidMexico’s military arrested 37 cartel gunmen and seized a large cache of weapons and ammunition without a single shot fired this week.
Les mer »
Lorain man gets nearly 9 years in prison for dealing heroin, cocainePrince Brown, 37, of Lorain, was sentenced last week by U.S. District Judge Pamela Barker.
Les mer »
Oil prices retreat as investors await OPEC+ meetingBoth international and U.S.-based crude oil benchmarks traded lower on Monday after clinching their second straight monthly loss in July/
Les mer »
US oil majors report record profits on the back of high pricesU.S. oil majors enjoyed another quarter of monstrous profits on the back of sustained $100-plus per barrel of crude oil and high refining margins.
Les mer »