5 million barrels of Oil from USA emergency reserve sent to Europe

[Charly Wingate]

HOUSTON, July 5 (Reuters) - More than 5 million barrels of oil that were part of a historic U.S. emergency reserves release to lower domestic fuel prices were exported to Europe and Asia last month, according to data and sources, even as U.S. gasoline and diesel prices hit record highs.

The export of crude and fuel is blunting the impact of the moves by U.S. President Joe Biden to lower record pump prices. Biden on Saturday renewed a call for gasoline suppliers to cut their prices, drawing criticism from Amazon founder Jeff Bezos.

The fourth-largest U.S. oil refiner, Phillips 66 (PSX.N), shipped about 470,000 barrels of sour crude from the Big Hill SPR storage site in Texas to Trieste, Italy, according to U.S. Customs data. Trieste is home to a pipeline that sends oil to refineries in central Europe.

Atlantic Trading & Marketing (ATMI), an arm of French oil major TotalEnergies (TTEF.PA), exported 2 cargoes of 560,000 barrels each, the data showed.

Oil from U.S. reserves sent overseas as gasoline prices stay high

More than 5 million barrels of oil that were part of a historic U.S. emergency reserves release to lower domestic fuel prices were exported to Europe and Asia last month, according to data and sources, even as U.S. gasoline and diesel prices hit record highs.

www.reuters.com

 

[Easy-E]

"The Putin Tax"

 

[CopiousX]

Its not that big of a deal.


We consume four times that amount in a single day. That 5mil barrels isnt even 1% of the US monthly consumption of oil

 

[Chrishaune]

Sounds like a collapse is imminent.

 

[Oatmeal]

Its not that big of a deal.


We consume four times that amount in a single day. That 5mil barrels isnt even 1% of the US monthly consumption of oil

Yeah but I need my 1% more than they need it in Europe and Asia.


How you giving out meals to strangers and you ain't feed your family yet

 

[beenz]

Yeah but I need my 1% more than they need it in Europe and Asia.


How you giving out meals to strangers and you ain't feed your family yet

Also, what do we even get in return for sending them this? What's the point?

 

[Teal.]

Also, what do we even get in return for sending them this? What's the point?

Didn’t we(USA) just get a shipment of baby formulas from Europe? And it’s still getting recurring shipments from Europe... What do you mean what we get in return…

You guys are like horses with them eye covers..

 

[Jean toomer]

Also, what do we even get in return for sending them this? What's the point?

The point is Europeans are in for a long, hard, and cold winter. Putin turned off the gas in NATO aligned countries and a lot of them still don’t have a contingency plan for the ashy, dry crackle season. Europe is a major trading partner. I’m sure Bidens sending liquid natural gas too. It’s going to be brutal for Europe this winter.

 

[360dagod]

That Euro breast milk gonna change your baby's life

 

[aXiom]

Also, what do we even get in return for sending them this? What's the point?

Removing Russia from the game completely without WWIII and the loss of thousands American lives. Does it come at a cost? Sure. But it's still pennies on the dollar compared to going the traditional route.

 

[Emoryal]

Removing Russia from the game completely without WWIII and the loss of thousands American lives. Does it come at a cost? Sure. But it's still pennies on the dollar compared to going the traditional route.

This isnt removing russiq from anything

 

[CashmereThoughts]

Also, what do we even get in return for sending them this? What's the point?

This is not philanthropy. It’s how you wage ware against Russia without firing a shot.

It’s really a tiny gesture to NATO Allies who are ending reliance on Russian gas and oil. This will pay dividends because Russia can not replace Europe as its number 1 customer

 

[F*ckthemkids]

That Euro breast milk gonna change your baby's life

We should be hitting up Cambodia for the finest of breast milks

 

[aXiom]

This isnt removing russiq from anything

You're gonna have to expand on this brethren.

 

[Warren Peace]

the fukk are these nikkas doing man