In September 2008, after hurricanes Gustav and Ike decimated Gulf communities, the DOE authorized an SPR exchange of nearly 5 ...

The broader trend suggests that other market forces (such as supply shocks, demand growth, and geopolitical risk) likely play ...

ExxonMobil is borrowing up to 1 million barrels of crude from the Strategic Petroleum Reserve due to contaminated offshore ...

The Trump administration hasn't acted "immediately" to refill the reserve, as Trump said he would. But a fast refill is being prevented by maintenance concerns, and funding for both repairs and new ...

The U.S. activates its Strategic Petroleum Reserve to counter refinery outages and Gulf Coast fuel threats. Discover the ...

U.S. President Donald Trump's signature budget bill slashed funding for refilling U.S. emergency oil reserves, violating his ...

The Strategic Petroleum Reserve, which stores U.S. oil in case of emergencies, could see a refill under President Trump, ...

The strategic petroleum reserve is the country’s emergency stockpile of oil. The 180 million barrel release would drop the reserve levels to 388 million barrels — the lowest levels since 1984.

America’s Strategic Petroleum Reserve is a collection of underground salt caverns in Texas and Louisiana that can hold more than 700 million barrels of oil, although it is not currently full.

Biden taps U.S. oil reserve to ease gas prices 03:47. President Biden announced Thursday that his administration will release 180 million barrels of oil from the nation's Strategic Petroleum ...

Still, when combined with other tools, strategic oil reserves can lower gas prices, said Jay Hakes, an energy expert and author of two books about the oil reserve, including “Energy Crisis ...

India is exploring building three new strategic oil reserves to boost its emergency stockpile and strengthen energy security, the head of the company in charge of strategic reserves said on Wednesday.