The Trump administration awarded contracts for nearly 41 million barrels from the nation’s emergency oil reserve, comple | Hanami
The Trump administration awarded contracts for nearly 41 million barrels from the nation’s emergency oil reserve, completing a massive oil exchange aimed at curbing soaring energy prices after the war with Iran.
Trafigura Trading LLC and ExxonMobil Holdings Corp., were among the winners, according to the Energy Department. The sale marks the last of a 172 million-barrel emergency release from the Strategic Petroleum Reserve, the second-largest in its history. The release was the US contribution to a broader International Energy Agency plan to put 400 million barrels onto global markets.
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