US to buy 6 million barrels of oil for its Strategic Petroleum Reserve

Reuters citing an unnamed source:

• US administration will seek up to 6 million barrels of oil for the Strategic Petroleum Reserve
• will announce the solicitation as soon as Wednesday to buy oil for delivery to the Bayou Choctaw site in Louisiana
• for delivery in the first few months of 2025
• Department of Energy target price is $79.99 per barrel, oil is currently trading below this

This article was written by Eamonn Sheridan at www.forexlive.com.