19 December 2022 | Other

The United States begins to replenish the oil reserve

The US Energy Department said that it is starting to buy oil for the Strategic Petroleum Reserve (SPR) after selling 180 million barrels earlier this year. The purchase will be around 3 million barrels and delivery is likely to take place in February

SPR fell to 380 million barrels, the lowest level since 1984. This raised concerns about the country's energy security.

The White House has previously said that it will buy black gold for the SPR when prices go down to $67-$72 a barrel or lower. At the moment, WTI futures are trading at around $75.

According to the official, the White House will try to be flexible in that regard and look into current fuel prices for possible purchases. He also added that it was very useful to put this notice out and see what the market has to offer in terms of the cost of oil.

The Energy Department said buying oil at current prices provides an opportunity to secure a lucrative deal for US taxpayers. This will be done by buying fuel below the average price of $96 per barrel, as well as by strengthening energy security.



Company MarketCheese
Period: 21.11.2025 Expectation: 1078 pips
GBPUSD falls as bullish pressure fades and budget risks loom
Yesterday at 11:04 AM 20
Brent sell
Period: 28.11.2025 Expectation: 300 pips
Brent crude capped by $65–$66 resistance
Yesterday at 09:27 AM 28
Period: 21.11.2025 Expectation: 660 pips
AUDCAD may enter short-term correction
Yesterday at 09:19 AM 21
Period: 21.11.2025 Expectation: 800 pips
Selling SPX as risk-off mood kicks in
Yesterday at 07:05 AM 17
Period: 20.11.2025 Expectation: 280 pips
Fading bullish momentum is good reason to sell natural gas
13 November 2025 44
Period: 31.12.2025 Expectation: 800 pips
USDCAD with 1.4090 play is worth buying
13 November 2025 49
Go to forecasts