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SPR Solicitation Supportive of Crude Friday

OIL

The US Energy Department is seeking to buy 3mn bbls of crude for the US SPR with March delivery according to an official solicitation.

  • The bids are due no later than 11am CT on Dec. 18: DOE.
  • The intent rather than the outright volume to refill the US SPR has given extra support to the crude recovery Friday.
  • Brent FEB 24 up 3% at 76.28$/bbl
  • WTI JAN 24 up 3.2% at 71.53$/bbl

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