ICYMI - US could start buying oil for the Strategic Petroleum Reserve (SPR) after June

Greg had the headlines here:

• US Energy Sec. Granholm: US will seek to purchase well for the SPR after mandate ends

U.S. Energy Secretary Jennifer Granholm said repurchasing oil for the Strategic Petroleum Reserve (SPR) could begin following a congressionally mandated sale in June.

• “That congressionally mandated sale of 26 million barrels will be completed by June, and it’s at that point where we will flip the switch and then seek to purchase,”

The US administration has previously said it will buy oil when prices are consistently at or below $67 to $72 per barrel.