The oil price jump helped push U.S. inflation to the highest level in 40 years. But the sale also bled the SPR, meant to be a protection against shocks in energy markets, to the lowest level since May 1984. And it helped to sour U.S. relations with Saudi Arabia which sided with Russia in early October in a deep oil production cut. Biden said on Oct. 19 the United States is ready to tap the SPR again early next year to rein in prices. Reporting by Katharine Jackson, Timothy Gardner and Ismail Shakil; Editing by Tim Ahmann, Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

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