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 Jun

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.