RE:RE:SPR release effectMOC,
Something to think about...SPR and bullish factors
While maybe a simple view.
The SPR release might prevent near term demand destruction which is why I'm positive on it..(bears hate this as they were hoping demand destruction was kicking in)
The SPR release will continue to force North American producers to temper Drilling (will impact drill, drill drill)
The SPR release basically guarantees a future oil buy (as they have to restock) call it a guaranteed future buy which extends the bull run
MoCH44 wrote: I am thinking that the SPR release is a good thing for us oil investors, it may be delaying the inveitable but gets us through a critical period without initiating demand destruction. Maybe this is the best way to provide time to rebalance the global supply and get a little bit more production on the market.
If $100 oil is here to stay I am loving it.
MoCH4