Europe Emerges As Key Buyer Of U.S. Strategic Petroleum Reserve Oil

IEA-led SPR release is underway, with the U.S. already distributing ~80 million barrels—much of it going to major traders and European buyers amid tight supply. European refiners are benefiting from discounted U.S. crude, as SPR barrels (often sour grades) are offered below local prices and shipped to hubs like Rotterdam.

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