US Energy Chief Will Seek $20 Billion to Refill Oil Reserve (1)

US Energy Secretary Chris Wright plans to seek up to $20 billion to accomplish President Donald Trump’s goal of refilling the nation’s depleted oil reserve to its maximum capacity.

The initiative, which may take years, would restore holdings “just close to the top” to maintain efficient operating status, Wright said in an interview on Thursday in Louisiana after touring a natural-gas export plant.

US crude futures briefly touched their highest level of the day at $67.68 a barrel in New York after the news.

Trump said he planned to replenish the Strategic Petroleum Reserve during his inaugural address in ...