Trump’s Emergency Oil Sails to Europe as War Upends Energy Flows

A massive release of oil from US emergency reserves that has started flowing to American refiners is also supplying fuelmakers in Europe, and potentially in Asia, as the Iran war upends global energy markets.

Global trading houses have sold at least 4 million barrels of medium crude grades from the US Strategic Petroleum Reserve to European refiners, and are also seeking buyers in Asia, people with direct knowledge of the transactions said, asking not to be named because the information isn’t public.