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US SPR Rose 300kbbls Last Week

OIL

Crude inventories in the US Strategic Petroleum Reserve rose by 300kbbl last week according to data from the Department of Energy.

  • Total inventories were up to 350.6mb on 8 Sep.
  • Sour oil stocks rose 300kbbl to 207.1mb last week and sweet oil remained unchanged at 143.5mb.
  • The SPR has received 3.9mbbl of a total of 6.3m bought for delivery in August and September.
  • The US last month rejected offers for Oct and Nov deliveries amid an increase in crude prices but at the time remained committed to its replenishment strategy for the SPR after previously stating plans to refill 12mbbls of oil reserves this year.

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