WE ARE BEING SOLD OUT!
The fourth-largest U.S. oil refiner, Phillips 66, 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, exported 2 cargoes of 560,000 barrels each, the data showed.
Phillips 66 declined to comment on trading activity. ATMI did not respond to a request for comment.
Cargoes of SPR crude were also headed to the Netherlands and to a Reliance refinery in India, an industry source said. A third cargo headed to China, another source said.
At least one cargo of crude from the West Hackberry SPR site in Louisiana was set to be exported in July, a shipping source added.
April 21,2022
Historic Collective Release of Oil from the International Energy Agency. After around the clock diplomacy by the PresidentMarxist and allies and partners, the International Energy Agency announced an unprecedented collective release with member countries outside the United States releasing an additional 60 million barrels. Together with the United States’ commitment, this will add a combined global amount of 240 million barrels to the market. It is the largest release from other IEA countries in history, and will support American consumers and the global economy.
h/t rccola