The United States has announced its latest release of emergency oil stockpiles in coordination with the International Energy Agency (IEA).
The US Department of Energy said on Monday that it had begun transferring 53.3 million barrels from the strategic petroleum reserve after awarding contracts to nine companies under its emergency exchange programme.
- list 1 of 4Trump says he will suspend petrol tax amid soaring US fuel prices
- list 2 of 4Haiti’s PM casts doubt on presidential vote by August as gang clashes grow
- list 3 of 4Roads blocked in Bolivia as protesters demand president’s resignation
- list 4 of 4Syria restores credit card payments in effort to rejoin the global economy
end of list
Trafigura Trading LLC, a Texas-based commodities trading company, was granted the biggest haul of nearly 13 million barrels, with Marathon Petroleum Corporation and ExxonMobil set to receive 12.4 million barrels and 11.4 million barrels, respectively.
Macquarie Commodities Trading US, Atlantic Trading & Marketing, BP Products North America, Energy Transfer Crude Marketing, Mercuria Energy America and Phillips 66 will receive between 1.05 million and 6.55 million barrels each, according to the Energy Department.
Under the department’s exchange scheme, participating firms are required to replenish the stockpile with new barrels at a later date.
“These actions continue to move oil swiftly into the market, address near-term supply needs, and ensure that the Strategic Petroleum Reserve remains strong through the return of premium barrels,” Kyle Haustveit, the head of the department’s Hydrocarbons and Geothermal Energy Office, said in a statement.
The transfer comes after US President Donald Trump’s administration agreed in March to release 172 million barrels of crude as part of the IEA’s coordination of the largest unloading of global stockpiles in history.
Advertisement
Oil prices have surged since the US and Israel launched their war on Iran in late February, with Tehran’s retaliatory blockade of the Strait of Hormuz paralysing one of the world’s most important trade routes.
Maritime traffic in the strait has ground to a halt amid Iranian threats against commercial shipping, disrupting about one-fifth of the global oil trade.
Oil prices continued to edge higher on Monday after Trump dismissed Iran’s latest peace proposal and warned that the ceasefire between the sides was “on life support”, dampening hopes for a quick resolution to the conflict.
Facing growing public discontent over rising fuel prices, Trump on Monday also pledged to waive the 18.4 cents-per-gallon federal tax on petrol, though taxation is the purview of the US Congress.
Futures for Brent crude, the international benchmark, were up about 1 percent in Asia on Tuesday morning, topping $105 a barrel.
Al Jazeera – Breaking News, World News and Video from Al Jazeera wp:paragraph
هلدینگ کاسپین استانبول | خرید ملک در ترکیه | صرافی معتبر ایرانی در ترکیه | خرید و فروش طلا در ترکیه | مهاجرت به ترکیه | واردات و صادرات در ترکیه | نیازمندیهای ترکیه | اخبار ترکیه | اخبار جهانی | توریست ایران | خدمات توریستی در ایران | تورهای گردشگری ایران | هلدینگ اول | خدمات کاریابی و فریلنسری و شغل | مرجع اطلاعات ایران (همه چیز در ایران) | کیف پول و خدمات مالی و پرداخت یار | اخبار ایران | تابلو زنده قیمت ارز در ترکیه و استانبول | صرافی آنلاین ترکیه | قیمت طلا و نقره در ترکیه | سرمایه گذاری در ترکیه | جواهرات در ترکیه | نرخ لحظه ای ارزها در استانبول | قیمت دلار امروز در ترکیه | قیمت دلار استانبول امروز | قیمت لحظه ای دلار | اخبار روز ترکیه استانبول | اپلیکیشن ISTEX | اپلیکیشن قیمت لحظه ای دلار و یورو و لیر و ارزها در ترکیه
About the Author
