US DOE announces next SPR sale, sheds light on plan to replenish reserve

The US Department of Energy announced July 26 its fifth sale as part of the largest-ever Strategic Petroleum Reserve drawdown aimed at reining in gasoline prices, and also shared details of its plan to replenish the SPR with a proposal that would afford DOE more buying power in the future. The US will release up to 2.8 million barrels of…