(Bloomberg) — The U.S. Energy Department awarded a second batch of crude oil from the strategic reserve to Marathon Petroleum Corp. as part of the Biden Administration’s effort to lower energy costs.
Marathon will receive 250,000 barrels of oil as part of an exchange from the Strategic Petroleum Reserve, the DOE said on its website. Exxon Mobil Corp. was granted the first batch of crude.
On Dec. 17, the agency issued a tender to sell 18 million barrels of sour crude from the SPR to be delivered in February and March. Tender results are still pending.
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