US Weighs Cancellation of Next SPR Sale

Via Energy Intel, says the US is reviewing and considering canceling a planned sale of crude oil Crude Oil Crude oil is the most popular tradable instrument in the energy sector, offering exposure to global market conditions, geopolitical risk, and economics. The instrument is strategically relied upon and situated in the global economy. Crude oil has proven to be a unique option for traders given volatility and the efficacy of both swing trading and longer-term strategies. Despite its popularity, crude oil is a very complex investing instrument, given the litany of fluctuations in oil prices, risk, Crude oil is the most popular tradable instrument in the energy sector, offering exposure to global market conditions, geopolitical risk, and economics. The instrument is strategically relied upon and situated in the global economy. Crude oil has proven to be a unique option for traders given volatility and the efficacy of both swing trading and longer-term strategies. Despite its popularity, crude oil is a very complex investing instrument, given the litany of fluctuations in oil prices, risk, Read this Term from its Strategic Petroleum Reserve (SPR) this year

• The planned releases, scheduled to take place by September of this year, are under review, according to three US-based sources.

• Biden administration switches its focus to refilling the reserve after a year of record releases aimed at taming oil prices.
• At stake are 26 million barrels of congressionally-mandated sales originally designed to raise revenue under bills passed at a time when lawmakers were less concerned about energy security because of a rapid rise in US shale oil production.

More at that link above.Energy intel citing unnamed sources for the info.

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Pic from an earlier release announcement: