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Last batch of US SPR release oil has been sold. Biden said he’s ready to unleash more.

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Via Reuters with a bit of a catch-up:

  • The U.S. Department of Energy on Thursday said it sold 15 million barrels of oil from the Strategic Petroleum Reserve
  • completing the last batch of the largest-ever release from the stockpile

And adds …

  • But the sale also bled the SPR, meant to be a protection against shocks in energy markets, to the lowest level since May 1984.
  • Biden said on October 19 the United States is ready to tap the SPR again early next year to rein in prices