“The Biden administration is again delaying a replenishment of the nation’s emergency oil reserve because of market conditions, according to people familiar with the matter. The decision comes as oil prices have rallied above $80 a barrel…
US officials are working to refill the Strategic Petroleum Reserve after a historic 180 million-barrel drawdown ordered by President Joe Biden brought it to about half of its capacity as he sought to tame high gasoline prices in the aftermath of Russia’s invasion of Ukraine.”