Energy Dept authorizes up to 4 million barrels of SPR crude as emergency loan to ExxonMobil and BP citing Hurricane Isaias disruptions

The US Energy Department authorized up to 4 million barrels of crude from the Strategic Petroleum Reserve as an emergency loan to ExxonMobil and BP, citing weather-related supply disruptions in the Gulf from Hurricane Isaias. The companies must repay the oil with extra barrels in 2027.

Detected & updated continuously · Source: Nebula