Buy Crypto
Pay with
USD
USD
Buy & Sell
Hot
Supports Visa, Mastercard, SEPA & more
P2P
0 Fees
Flexible trading, zero fees
Gate Card
Use your crypto for payments worldwide
Markets
Trade
Basic
Advanced
Futures
Futures
Access hundreds of perpetual contracts
CFD
Gold
One platform for global traditional assets
Options
Hot
Trade European-style vanilla options
Unified Account
Maximize your capital efficiency
Demo Trading
Introduction to Futures Trading
Learn the basics of futures trading
Futures Events
Join events to earn rewards
Demo Trading
Use virtual funds to practice risk-free trading
Earn
Launch
CandyDrop
tag
Collect candies to earn airdrops
Launchpool
Quick staking, earn potential new tokens
HODLer Airdrop
Hold GT and get massive airdrops for free
Pre-IPOs
Unlock full access to global stock IPOs
Alpha Points
Trade on-chain assets and earn airdrops
Futures Points
Earn futures points and claim airdrop rewards
Investment
Square
Square
Post, share, and explore crypto trends
Live
moments live
Live crypto market analysis
Chat
Chat with crypto traders
News
What is happening in crypto
flower_head
More
Promotions
AI
Others
TradFi
WCTC S8
Rewards

U.S. Releases 53.5M Barrels from Strategic Petroleum Reserve in June-August to Lower Oil Prices

GateNews
Commodities

According to Glontech, the U.S. Strategic Petroleum Reserve allocated 53.5 million barrels to companies including Trafigura and Marathon Petroleum for release between June and August to help ease oil price surge linked to the Iran conflict.

The release, the second-largest SPR sale in history, is part of a broader international effort led by the International Energy Agency to lower oil prices ahead of the summer driving season. The U.S. government also committed to releasing 172 million barrels through an exchange program, under which crude is loaned to companies and must be returned in physical form. As of now, 133.1 million barrels have been approved for release.

View Source
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to Disclaimer.

Related News

05-11 20:11
U.S. Department of Energy Releases 92.5M Barrels from Strategic Petroleum Reserve for Borrowing
05-11 19:45
U.S. Strategic Petroleum Reserve Releases Record 1.22M Barrels Per Day in Week Ended May 8
05-11 14:31
Peru Authorizes Petroperu to Seek $2 Billion State-Guaranteed Loan on May 11
05-11 05:21
Iran Proposes Lifting Oil Sanctions; Trump Rejects as "Completely Unacceptable" on May 11
05-10 23:53
Two Oil Tankers Disabled Tracking Signals Transiting Strait of Hormuz With 4M Barrels Last Week
In-Depth Analysis

Ripple Secures $200M Debt Facility From Neuberger Berman

Crypto Frontier05-11 11:02

Trump Meme Team Moves $17M in TRUMP to Bitgo as Allocation Wallet Stirs Again

Coinpedia05-11 10:35

Netanyahu: The war with Iran “is not over,” Trump rejects Iran’s latest proposal, oil prices rebound

ChainNewsAbmedia05-11 01:44
Comment
0/400
No comments