What is the purpose of the U.S. Energy Department's loan of 500,000 barrels of crude oil from the Strategic Petroleum Reserve, and who received it?

The U.S. Energy Department loaned 500,000 barrels of crude oil from the Strategic Petroleum Reserve to energy trader Vitol as part of the Trump administration’s effort to curb fuel prices; this loan represents about 1.25% of the 40 million barrels offered in the latest SPR loan allotment announced on June 10.

How does the SPR loan program work in terms of repayment and cost to taxpayers?

Companies borrowing oil from the SPR must return the original volume plus premiums of up to 24% in extra barrels, a system the Energy Department says stabilizes markets at no cost to U.S. taxpayers, with Energy Secretary Chris Wright estimating 35 to 40 million barrels of premium oil will be returned this year and next.

US loans 500,000 barrels of oil from Strategic Petroleum Reserve

Jun 22, 2026

The U.S. Energy Department awarded energy trader Vitol a contract to borrow 500,000 barrels of crude oil from the Strategic Petroleum Reserve. This initiative aims to stabilize fuel markets and control prices amid ongoing geopolitical tensions.

reuters

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