Six Companies Buy Oil from US Emergency Crude Reserve

Six companies bought 14 million barrels of oil from the U.S. Strategic Petroleum Reserve in a sale required by law to help fund medical research and the federal government, said the Department of Energy on Thursday.

 

BP Oil Supply, Exxon Mobil Corp, Phillips 66 (PSX) , Shell Trading, Valero Marketing and Supply Company, and Macquarie Commodities Trading bought oil from the reserve, which is held in salt caverns on the Texas and Louisiana coasts.

 

No prices were immediately available.


(Reporting by Timothy Gardner; Editing by Lisa Shumaker)