The Department of Energy has issued an invitation for bids for some 3 million barrels of crude that will go into the strategic petroleum reserve as part of refill efforts. In the announcement, the DoE twice noted that it had sold oil from the SPR at much higher prices than it is buying it now back at, with the difference standing at $95 per barrel for the sold oil and $79 and less for the barrels that have been bought for the refill since then. “DOE has already purchased 4.8 million barrels for SPR replenishment for an average of less than…
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