RE:HereThere is a good post on the SPR releases on the WCP bullboard. Apparently 18 of the 50 MB have already been eleased. The entire post and thread is a worthwhile read.
Link to WCP post marketsense wrote: We go again. Between the new variant fears and Bidens release for the SPR
markets are in freefall. I can't see how ALA should be so vunerable as their
business is exporting propane and US based utility. Both businesses will continue
to do well in spite of the markets reaction. A case of collateral damage IMO.
On another note, I also fail to see how Bidens release of oil reserves is going to
encourage more domestic production. It will temporarily bring the oil price down
but that's only a short term benefit. A lower oil price is not ging to make it more attractive for oil companies to spend on E & P. Oil companies are being very conservative this time and most are trying to pay down debt incurred during the
last cycle.