The U.S. bought 2.1 million barrels of crude oil, the Energy Department said, as it replenishes the Strategic Petroleum Reserve after the largest sale in history last year.

The department said it bought the oil for an average of $74.23 a barrel, well below the average of $95 a barrel that oil was sold for in 2022. The administration had conducted sales last year including a record one of 180 million barrels to help control oil prices after Russia, a large crude exporter, invaded Ukraine.
Source: Reuters (Reporting by Timothy Gardner Editing by Chris Reese)