The US Energy Department said the Trump administration plans to lend 40 mln
barrels of crude from the Strategic Petroleum Reserve (SPR) to energy firms to
alleviate fuel-price pressure linked to Iran tensions and the Russia-Ukraine
war. The release would be a loan that firms must return. In March the US, with
the IEA and about 30 countries, agreed a global release of roughly 400 mln
barrels; the US pledged 172 mln barrels. The administration proposed releasing
the remaining 40 mln barrels in June, but by month-end firms had agreed to
borrow only about 0.5 mln barrels.
