DOE Aims to Buy 6 Million More Barrels of Crude for SPR Starting in February -- OPIS

Dow Jones09-19

The Department of Energy on Wednesday released a request for proposals for 6 million bbl of crude oil for the Strategic Petroleum Reserve.

The agency is seeking sour crude delivered to the Bayou Choctaw, La., storage site over a four-month period starting in February. The solicitation set a maximum price of $79.99/bbl.

NYMEX West Texas Intermediate crude futures over that period are trading between about $68.50 and $68.69/bbl.

This content was created by Oil Price Information Service, which is operated by Dow Jones & Co. OPIS is run independently from Dow Jones Newswires and The Wall Street Journal.

--Reporting by Denton Cinquegrana, dcinquegrana@opisnet.com; Editing by Jeff Barber, jbarber@opisnet.com

(END) Dow Jones Newswires

September 19, 2024 09:15 ET (13:15 GMT)

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