RE:RE:RE:RE:RE:RE:RE:RE:For those who care...I think for all intents and purposes, the SPR has ended or at least will end in the next week or two. I believe the anticipated release ending date was early December, but utilizing prior SPR release timing, an early or even late December date was unlikely.
I have read conflicting numbers, but it appears that the SPR emergency release rate over the last twenty weeks was in the vicinity of 877,000 barrels/pd as opposed to the suggesed authorized release of 1M bbls/pd.
That release cadence may account for the fact that the final release will occur in the next week or two... I'd look for an end delivery date around the 3rd week in January. SPR stockpiles are presently at the lowest level in 38 years and it will take months, if not years to refill the SPR. The move to begin to refill the salt caverns and to lock in a price, comes as the WTI price has fallen significantly lower because of recession fears.
Having sold the SPR release for $96 per barrel, the present low price affords the US the opportunity to secure a good deal on the repurchase price. I would imagine the process to refill is underway. Whether or not the oil comes from Canada, or elsewhere, remains to be seen. My understanding is that the US will solicit bids.