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MARKETS LIVE BLOG:

STOCKS CLIMB AS DOW POSTS 8TH STRAIGHT WIN

Fed's Michelle Bowman echoes higher-for-longer mantra for interest rates

U.S. awards supply contracts for 3 mln bbl SPR purchase at $73/bbl

Reuters
·1 min read

WASHINGTON, June 9 (Reuters) - The U.S. Department of Energy said on Friday it awarded supply contracts to five companies to deliver 3 million barrels of crude oil to the Strategic Petroleum Reserve in August at an average price of $73 per barrel.

The DOE had announced the purchase plan in May as a step to refill the emergency stockpile after a record release following Russia's invasion of Ukraine.

The department also said on Friday it launched a new solicitation for another 3 million barrels for delivery to the stockpile in September. (Writing by Richard Valdmanis; editing by Jonathan Oatis)