Biden Crude Release Moves Into Second Round With Bids Due Jan. 4
- Tender closes Jan. 4, for supply during February and March
- Department of Energy offering 18 million barrels of sour crude
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The Biden administration’s release of crude from U.S. emergency reserves to cool oil’s rally is going into a second round, with bids due by the first working day of the year.
The Department of Energy is selling 18 million barrels of sour crude from storage caverns in Texas and Louisiana in a tender that closes Jan. 4, with deliveries from Feb. 1 through March 31, according to a statement on its website.