U.S. Department of Energy said Wednesday it purchased 900,000 barrels of sour crude oil for nearly $56 million (about $62 per barrel) to help replenish the nation’s strategic petroleum reserve. The purchase was comprised of 600,000 barrels from Trafigura Trading and 300,000 from Energy Transfer Crude Marketing for a solicitation that was announced in October. The oil will be delivered in December and January to the Bryan Mound SPR site near Freeport in Brazoria County in southeast Texas.
Bryan Mound is the largest of four SPR sites in Texas and Louisiana with capacity of 254 million barrels. The entire SPR can store up to 727 million barrels of oil. Reuters said the SPR now holds about 410 million barrels.
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