It is the third tranche from the SPR as part of US President Donald Trump’s administration’s attempt to curb fuel prices, which have risen since the start of the US-Israeli war against Iran, Reuters reported.
BP Products North America, ExxonMobil Oil Corp and Marathon Petroleum are among those awarded loans from the Strategic Petroleum Reserves, according to a statement from the Ministry of Energy.
Oil prices fell sharply by about 10 percent after announcements of an easing of tensions related to the war in Iran and the normalization of traffic through the Strait of Hormuz.
The price of Brent oil hovered below 90 dollars per barrel, and the US crude oil WTI (West Texas Intermediate) at around 84 dollars per barrel, Trading Economics reported.
This is the lowest level in the last five weeks.
(Vijesti.ba)
