Citgo requests oil from US strategic reserve

03 September 2008 16:16  [Source: ICIS news]

HOUSTON (ICIS news)--WTI crude oil opened up 53 cents at $110.24/bbl on Wednesday and drifted to a morning low of $107.32/bbl, after the US Department of Energy (DoE) announced on Tuesday evening that Citgo had requested 250,000 bbl of oil from the Strategic Petroleum Reserve.

The US Department of Energy (DoE) said Citgo made the request because of the closure of Louisiana’s Calcasieu channel and disruptions in oil supply caused by Hurricane Gustav.

The energy department said it intended to grant Citgo’s request.

Citgo was not immediately available for comment.

($1 = €0.69)

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By: Brian Balboa
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