Oct. 21 at 5:04 PM
Trump admin plans to buy 1M barrels for delivery in December & January for the US SPR, taking advantage of low oil prices to begin filing the depleted stockpile
WT is down about -30% since its peak in mid-January. It traded at about
$58/barrel on Tuesday, near the lowest since 2021.
President Trump has vowed to refill the oil reserve, which has a maximum capacity of about 700M barrels. It currently has about 408M barrels, but the administration has limited funds to buy more.
$USO $DVN $XOM $FANG $OXY