US to Loan 40 Million Barrels from Strategic Reserve Amid War-Driven Supply Strain

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The United States has announced a plan to loan 40 million barrels of oil from its Strategic Petroleum Reserve to energy companies. The move aims to ease rising oil prices driven by the ongoing conflicts in Ukraine and involving Iran. Global supply disruptions have created heightened competition among major oil-importing nations. Indian refiners are particularly affected, as an anticipated drop in Russian oil supplies is forcing them to seek costlier alternatives. Competition with China for available oil is further squeezing India's options in the international market.

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IndiaTimes of India ·

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IndiaNDTV ·

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IndiaTimes of India ·

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