Foreign Buyers Snap Up Nearly Half of Trump’s Emergency Oil
A worker checks a crude oil pipeline at the US Department of Energy's Bryan Mound Strategic Petroleum Reserve in Freeport, Texas.
Photographer: Luke Sharrett/BloombergNearly half of the crude oil released from the US Strategic Petroleum Reserve is being exported, a fresh sign of how severely global supplies have tightened amid the Iran war.
About 13 million barrels from the US emergency stockpile have sailed to Europe and other destinations, according to data from Kpler Ltd. based on US Customs’ documents. That represents roughly 40% of the crude released so far from the reserve.