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Phillips 66, Shell Purchase Majority of U.S. Reserve Oil Sale

Screen Shot 2014-02-10 at 16.29.29Extracts from an article by Dan Murtaugh published 17 March 2014 by BloombergBusinessweek

Phillips 66 and Royal Dutch Shell Plc walked away with about 3.3 million barrels of the 5 million that the Energy Department sold in what will be the first release from the U.S. Strategic Petroleum Reserve since 2012. Phillips 66 purchased 2.04 million barrels at an average price of $100.23 a barrel. Shell bought 1.22 million for $97.53.

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