Biden makes final purchase for Strategic Petroleum Reserve

The Biden administration has made its final purchase of oil for the Strategic Petroleum Reserve as the White House attempts to replenish the facility’s supply after selling a record amount of its crude oil to curb high gas prices following the war in Ukraine.

The Department of Energy announced on Friday that it purchased 2.4 million barrels of crude oil for the SPR, which is the U.S. emergency oil stockpile. With that, the agency said, it has purchased or canceled the sale of 200 million barrels of oil for the SPR — 20 million more than were sold on an emergency basis under Biden.