No details here about how the U.S. has “arranged” to refill the SPR with 200 million barrel within the next year. The language suggests that something has already been executed.

A federal court has dismissed a lawsuit challenging the Trump EPA's removal of its "EJScreen" tool that mapped polution burdens ,storage.courtlistener.com/recap/gov.usco…

“In the interest of national defense, the White House is considering waiving the Jones Act for a limited period of time to ensure vital energy products & agricultural necessities are flowing freely to U.S. ports. This action has not been finalized,” Karoline Leavitt has said.

Wright is calling these "swaps" but I wouldn't be surprised if he means exchanges. Exchanges are authorized under 42 USC 6240, the acquisition authority. Importantly, under the reg governing acquisition (10 CFR 626), exchanges require that DOE take return barrels with a

US preparing insurance plan for ships passing the Strait of Hormuz, transportation secretary says #oott cnn.com/world/live-new…

🚨🇮🇷 Re the strikes on #Iran's South Pars field - we're getting the same kind of confusion that we did in June. The offshore upstream production facilities DON'T seem to have been hit. What WAS hit was onshore facilities in Assaluyeh that process sour gas from phases 3-6. #oott

NEW: The White House will not implement a crude export ban, and told oil executives as much at this morning’s meeting with API, per an admin official who participated in the meeting.

The SPR is surely showing its age, as FT notes. But because the SPR is made up of dozens of caverns, many still had 5/5 drawdowns left, as of 2016 energy.gov/sites/prod/fil…

Trump did not end up requesting "Rehearing or Readjudication" of the U.S. Supreme Court's ruling striking down IEEPA tariffs, as he suggested he might do on Truth Social. Mandate issued today

ICYMI: 🇵🇰🇮🇷 #Iran has approved 20 Pakistani-flagged vessels to sail though the strait of Hormuz, Pakistani deputy prime minister and foreign minister Ishaq Dar said Saturday. #oott argusmedia.com/en/news-and-in… 🔓

US SPR crude inventories fell by ~0.3mb w/w to 415.1mb last week #oott Sour unchanged at 260.5mb Sweet down ~0.4mb to 154.5mb

🇺🇸🇮🇷 Trump saying Iran asked for a *ceasefire* is interesting b/c Iranian officials have been insisting they DO NOT want a ceasefire, but a *total end to war.* Iran argues ceasefire only serves to allow US/ Israel to regroup and come again, as they did b/w Jun 25 and Mar 26.

Exclusive🇸🇦: #SaudiArabia's crude exports averaged 5.3mn b/d in March and refined products exports stood at around 800,000 b/d, sources told Argus Media, after Riyadh successfully rerouted flows to its west coast following the closure of the strait of Hormuz. Crude exports

NEW: 🇮🇷 Iran is proposing a regional solution to the Hormuz crisis involving at least some of the countries bordering the Mideast Gulf. Part of that would involve charging a fee for vessels passing through, with revenues from this available to all participating countries as 'war

Official Source at the Ministry of Energy: Operational Activities Halted at Several Energy Facilities in the Kingdom due to Recent Attacks spa.gov.sa/en/N2556681 #SPAGOV

Exclusive: Doug Burgum has blown past a deadline set by Congress to report the status of energy projects. With Interior stonewalling clean energy, Congress required Interior to submit 2 reports every 60 days. The first reports are late. notus.org/energy/trump-a…