US to Add 40 Million Barrels to SPR After Iran Conflict

The U.S. Department of Energy will receive an additional 40 million barrels into the Strategic Petroleum Reserve following the end of the Iran conflict. This stems from the DOE's earlier loans of roughly 133 million barrels to stabilize markets, with borrowers required to repay at premiums up to 24%, effectively returning about 1.25 barrels per barrel borrowed. The SPR stood at 357.1 million barrels as of May 29, down from around 415 million in early March, after commercial inventories began declining sharply. The program is framed as cost-free to taxpayers while providing short-term supply relief, though the delayed replenishment may ease medium-term price pressures.