Forward Oil PriceInvestors forget the contango in the oil markets.
So, the 10% President opened the Strategic Reserve at 1 million barrels per day in April.
That will carry on until late September .
By late May, the US strategic Reserve was at its lowest since 1987.
So, that is an extra artificial injection into the oil market over the summer period.
Come late September , that injection of 1 million barrels per day will end.
By then the SR will be the lowest ever and Mr 10% will have to buy oil to replace those SR.
That is a 2 million barrel per day change in the US oil demand.
There are no reserves that I am aware of that could fill this 2 million barrels change in oil demand.
Very well thought out Dont you think..