U.S. Taps Strategic Oil Reserve Amid Supply Disruptions
The U.S. Department of Energy on Friday authorized an emergency exchange of up to 400,000 barrels of crude oil from the Strategic Petroleum Reserve to Phillips 66’s Lake Charles refinery in Louisiana, citing a temporary disruption to crude deliveries, the department said. The barrels will be drawn from the reserve’s West Hackberry site and are available for immediate delivery, according to the DOE.
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