Crude oil prices began trading this week with a gain, extending Friday’s rally as news emerged that the U.S. federal government is buying up to 3 million barrels for the strategic petroleum reserve. So far, the government has bought 9 million barrels of crude in batches of three, the first steps in the refilling of the SPR after drawing over 180 million barrels last year to stabilize fuel prices.
Prices are right now in the sweet spot of the Department of Energy but it has been a given that prices will jump as soon as the DoE says it’s…Oil Prices Continue to Climb on SPR Refill News
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