US Replenishes Emergency Oil Cache with 2.8 Million Barrels Purchase

The United States has taken a significant step to replenish its emergency oil cache by purchasing 2.8 million barrels of crude. This move comes as the nation seeks to refill the Strategic Petroleum Reserve, which had reached a 40-year-low. The Energy Department has been working to slowly restore the reserve after it was depleted in the aftermath of the Biden administration's historic drawdown following Russia's invasion of Ukraine. The purchase underscores the efforts to bolster the nation's oil supplies and enhance its energy security in the face of global geopolitical challenges.