US loans 16.75 million barrels of oil from SPR

The Trump ​administration said ​on Thursday that oil ‌companies have ​agreed to borrow 16.75 million barrels of oil ‌from the Strategic Petroleum Reserve, as part of a global deal struck in March ‌that aimed to control fuel prices after ‌the US and Israel started the war on Iran. Companies borrowing the oil include Gunvor, ⁠Trafigura Trading, ​and ⁠Vitol Inc, the Department of Energy said ⁠in a statement. The US had offered the ​17 million barrels from the SPR on ⁠October 16.

Washington agreed in March to loan ⁠172 ​million barrels of oil from the SPR as part of a wider ⁠deal with about 30 countries in the International ⁠Energy ⁠Agency to release 400 million barrels from reserves around the world.