The US has bought 6 million barrels of oil for the Strategic Petroleum Reserve for delivery through May 2025, the Department of Energy said. The purchases are part of an effort to replenish stockpiles after President Joe Biden ordered the largest ever sale from the reserve in 2022 of 180 million barrels in an effort to control fuel prices following Russia’s invasion of Ukraine. The US bought 3.5 million barrels from Exxon Mobil (XOM.N), opens new tab, 2 million from Shell Trading Company, and 500,000 from Macquarie Commodities Trading US, for a total cost of more than $411 million, the department said.
