U.S. Offers Up to 40 Million Barrels From Strategic Oil Reserve

The U.S. government is offering energy companies loans of up to 40 million barrels of crude oil from the Strategic Petroleum Reserve. The move represents the final U.S. portion of an international agreement to release emergency oil supplies following disruptions linked to the war with Iran. Washington previously committed 172 million barrels as part of a broader International Energy Agency effort involving about 30 countries and 400 million barrels of reserves worldwide. An earlier attempt to loan this final batch attracted limited demand. The government is now making the crude available again as global energy markets continue facing supply and price uncertainty.