Reuters citing an unnamed source:
- US administration will seek up to 6 million barrels of oil for the Strategic Petroleum Reserve
- will announce the solicitation as soon as Wednesday to buy oil for delivery to the Bayou Choctaw site in Louisiana
- for delivery in the first few months of 2025
- Department of Energy target price is $79.99 per barrel, oil is currently trading below this
This article was written by Eamonn Sheridan at www.forexlive.com.
