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World News Story: Department of Energy Ditches Plans to Buy Oil for Strategic Reserve

The U.S. Department of Energy ditched plans to purchase crude oil for the Strategic Petroleum Reserve because of a lack of funding from Congress, according to a notice. The purchases were seen as a way to absorb some of the glut in crude markets due to demand erosion from the coronavirus pandemic and a flood…


Posted: 2020-03-26 15:06:13

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World News Story: Department of Energy Ditches Plans to Buy Oil for Strategic Reserve | Newsmax Live Newscast | RobinsPost News Network - Newscast

WTI Lower as DOE Ditches SPR Buys

Thu, 26 Mar 2020 14:27:00 GMT

WASHINGTON (DTN) -- Oil futures on the New York Mercantile Exchange and Brent crude on the Intercontinental Exchange settled lower Thursday, with West Texas Intermediate falling another 7% after the U ...

UPDATE 1-U.S. Department of Energy ditches plans to buy oil for strategic reserve

Thu, 26 Mar 2020 09:07:00 GMT

NEW YORK, March 26 (Reuters) - The U.S. Department of Energy said on Thursday it has ditched plans to purchase crude for the nation’s emergency reserve due to a lack of funding from Congress ...

U.S. Department of Energy ditches plans to buy oil for strategic reserve

Thu, 26 Mar 2020 08:50:00 GMT

The U.S. Department of Energy said on Thursday it has ditched plans to purchase crude ... up to 77 million barrels to fill the Strategic Petroleum Reserve, but the stimulus package passed by ...

U.S. Department of Energy ditches plans to buy oil for strategic reserve

Thu, 26 Mar 2020 08:08:00 GMT

NEW YORK, March 26 (Reuters) - The U.S. Department of Energy ditched plans to purchase crude oil for the Strategic Petroleum Reserve because of a lack of funding from Congress, according to a notice.

U.S. Department of Energy ditches plans to buy oil for...

Thu, 26 Mar 2020 07:25:00 GMT

NEW YORK, March 26 (Reuters) - The U.S. Department of Energy said on Thursday it has ditched plans to purchase crude for the nation's emergency reserve due to a lack of funding from Congress ...

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