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Market Chatter: US Sends Emergency Oil Reserve Cargo to Philippines Amid Middle East Supply Disruptions

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A shipment of crude oil from the US Strategic Petroleum Reserve is heading to the Philippines, marking the first delivery of U.S. emergency reserve oil to Asia since 2022, Reuters reported Tuesday, citing ship-tracking data.

The cargo includes about 616,000 barrels of sour crude loaded from the Bryan Mound reserve facility in Texas and is expected to arrive in Bataan in early July. The ship is also loaded with about 700,000 barrels of U.S. sour grade Thunder Horse, according to the report.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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