The Trump administration plans to buy 1 million barrels for the US Strategic Petroleum Reserve, taking advantage of low oil prices to begin filling the depleted stockpile. Trump has vowed to refill the oil reserve, which has a maximum capacity of about 700 million barrels. It currently has about 408 million barrels, but the administration has limited funds to buy more. The reserve’s levels were sharply reduced under US President Joe Biden, when gasoline prices spiked following Russia’s invasion of Ukraine. The drawdown of some 180 million barrels in 2022 cost about $280 million and delayed maintenance, according to the Energy Department.