US Releases 53.3 Million Barrels from SPR, Allocating Largest Share to Trafigura

The release is part of an International Energy Agency coordinated effort to ease global oil tightness after prices rose amid Middle East tensions. The Department of Energy said it started the transfers on Monday after awarding contracts to nine companies under its emergency exchange program. Under that program, firms must later return new barrels to replenish the reserve.

Trafigura Trading LLC, based in Texas, received roughly 13 million barrels, the largest single allocation. Marathon Petroleum Corporation was allotted 12.4 million barrels, while ExxonMobil got 11.4 million barrels. The remaining six firms—Macquarie Commodities Trading US, Atlantic Trading & Marketing, BP Products North America, Energy Transfer Crude Marketing, Mercuria Energy America and Phillips 66—will each receive between 1.05 million and 6.55 million barrels. Kyle Haustveit, head of the department’s Hydrocarbons and Geothermal Energy Office, said the move shifts oil swiftly into the market, meets near‑term supply needs, and keeps the reserve strong by ensuring the return of premium barrels.

The release adds immediate crude to a market that has seen Brent futures hover above $105 a barrel, helping to temper price spikes caused by disrupted shipping through the Strait of Hormuz. By requiring participants to replace the borrowed barrels later, the exchange aims to preserve the Strategic Petroleum Reserve’s capacity for future emergencies. Analysts will watch whether the added supply eases pump prices and how quickly the involved companies fulfill their replenishment obligations. What to watch next: any changes in Brent crude prices and announcements from the Department of Energy regarding the timing of the return barrels.