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US Taps Strategic Petroleum Reserve Amid Rising Oil Prices from Middle East Conflict

KVIA••CNN Newsource
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In response to soaring oil prices driven by ongoing conflict in the Middle East, the US Department of Energy has announced the release of 172 million barrels from the Strategic Petroleum Reserve (SPR). Established in 1975, the SPR serves as the world's largest emergency crude oil supply, currently holding about 415 million barrels. The reserve comprises over 60 underground salt caverns along the Gulf Coast, designed to protect the economy from supply disruptions. Oil can be released quickly, typically within 13 days of a presidential order, and is sold to major companies. This strategic move aims to stabilize fuel costs for consumers and industries affected by the crisis.

Key Details: • 172 million barrels of oil to be released from the SPR • Current SPR inventory is approximately 415 million barrels • Oil can flow to refineries within 13 days of a release order • SPR consists of over 60 underground salt caverns along the Gulf Coast

economy energy middle-east oil-prices strategic-petroleum-reserve

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Gulf CoastUS Department of Energy

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