🇺🇸 The US Department of Energy has authorized an emergency exchange of up to 4 million barrels of crude oil from the Strategic Petroleum Reserve (SPR).
This measure aims to offset acute supply disruptions in the Gulf Coast caused by Hurricane Isaias, allowing ExxonMobil and BP America to borrow up to 2 million barrels each to sustain critical refinery operations.
The drawdown pushes the total SPR inventory to 283 million barrels, marking its lowest capacity level since October 1982.
The emergency response highlights severe structural strains on the nation's energy backstop, which is depleting rapidly due to compounding weather disruptions and the ongoing conflict involving Iran.
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