RE:Was today the end of the SPR release?TheWokeLemming wrote: Had only 2.4 million barrels left to sell as of Dec 30.
Monday should be interesting.
To tell you the truth , I've lost track but its gotta be close . Originally it was supposed to end by the Nov election but smaller daily releases stretched it into Dec (877Kbpd rather than the 1Mbpd) . When it does finally end you'll see a big dent in those inventory reports . A white house spokesman said back in the middle of Dec that they wanted to start refilling the SPR and tendered an offer for 3M barrels . With the economy still keeping people employed , demand should remain steady . It might take a couple of draws to get the markets attention but combine that with verifiable activity in China and we should see the selling pressure abate .
On a side note , Freeport LNG should be restarting within a week or two . That and some colder temps in Jan/Feb would go a long way to boosting nat gas as well .