Is a US SPR oil release imminent? No, say analysts

Author: Eamonn Sheridan | Category: News

ICYMI the weekend oil news is of disruption to supply due to attacks on facilities in Saudi Arabia 

Will we get a release from the SPR? 
  • The Strategic Petroleum Reserve (SPR) is an emergency fuel storage of petroleum maintained by the United States Department of Energy (DOE)
Platts reports on comments from various oil analaysts, the gist of which is "No."
  • "I don't think a release is imminent
  • Everything depends on how much damage has been done and how long will it last."

Oil markets open at the top of the hour (overnight futures trade). While I reckon no SPR release is imminent we have a guy in the White House who values, above all, popularity (he is a politician after all), so a heads up for potential tweets. You never know with the tweeter-in-chief. 

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