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<blockquote data-quote="SlugSlinger" data-source="post: 3776832" data-attributes="member: 7248"><p>At least buydun is trying to help the American people to lower the cost of energy here by using the reserves. Oh wait...</p><p></p><p></p><h3>Oil From U.S. Strategic Reserve Heads for Europe Amid Global Supply Crunch</h3><p></p><p>A cargo of crude from the U.S. Strategic Petroleum Reserve departed a Texas port bound for Europe, a signal of increasing oil-market disarray as refiners shun Russian supplies and prices surge.</p><p></p><p>The rare export of strategic U.S. barrels is evidence of the ever-widening search for crude to replace Russian cargoes seven weeks after President Vladimir Putin’s invasion of Ukraine triggered international revulsion and sanctions. With the global oil benchmark trading above $110 a barrel, traders and refiners also are trying to cope with a cutoff of Libya’s biggest source of crude and little expansion in U.S. output.</p><p></p><p>A tanker known as the Advantage Spring loaded low-sulfur crude originally pumped from the strategic reserve caverns in Southwest Louisiana at a port in Nederland, Texas earlier this month, according to a person familiar with the matter. The ship, chartered by an affiliate of French energy giant TotalEnergies SE, is bound for the key European port of Rotterdam, according to ship-tracking data compiled by Bloomberg.</p><p></p><p>President Joe Biden, along with several allies, recently offered a portion of their strategic reserves for sale to help alleviate some of the supply pinch associated with the escalating war in Ukraine. TotalEnergies didn’t respond to a request for comment.</p></blockquote><p></p>
[QUOTE="SlugSlinger, post: 3776832, member: 7248"] At least buydun is trying to help the American people to lower the cost of energy here by using the reserves. Oh wait... [HEADING=2]Oil From U.S. Strategic Reserve Heads for Europe Amid Global Supply Crunch[/HEADING] A cargo of crude from the U.S. Strategic Petroleum Reserve departed a Texas port bound for Europe, a signal of increasing oil-market disarray as refiners shun Russian supplies and prices surge. The rare export of strategic U.S. barrels is evidence of the ever-widening search for crude to replace Russian cargoes seven weeks after President Vladimir Putin’s invasion of Ukraine triggered international revulsion and sanctions. With the global oil benchmark trading above $110 a barrel, traders and refiners also are trying to cope with a cutoff of Libya’s biggest source of crude and little expansion in U.S. output. A tanker known as the Advantage Spring loaded low-sulfur crude originally pumped from the strategic reserve caverns in Southwest Louisiana at a port in Nederland, Texas earlier this month, according to a person familiar with the matter. The ship, chartered by an affiliate of French energy giant TotalEnergies SE, is bound for the key European port of Rotterdam, according to ship-tracking data compiled by Bloomberg. President Joe Biden, along with several allies, recently offered a portion of their strategic reserves for sale to help alleviate some of the supply pinch associated with the escalating war in Ukraine. TotalEnergies didn’t respond to a request for comment. [/QUOTE]
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