US energy Sec. Turk
- timing of SPR release could be adjusted if oil prices drop
- US metric of success if affordable consumer fuel prices, not how quickly oil stockpiles can be released
- China and other countries could also time their releases based on oil prices
- Biden administration will continue to consider other tools to manage energy prices including potential oil export ban
The price of WTI crude oil futures are trading at $67.14. That is well off the intraday high of $69.47 but still above the low at $66.22 in volatile up and down trading.
Looking at the daily chart below, the high price today did stall ahead of its 200 day moving average currently at $70.04. The high price once again reached $69.47.
