SPR oil swapped for export to ChinaCude continues to be released from strategic oil reserve and coincidently oil is shipped to China.
Demand is up. Releases camoflashing shortage. Driving season demand ramping up. Expect a reversal in price very shortly in the coming weeks.
https://oilprice.com/Energy/Energy-General/Huge-Volumes-Of-Crude-Oil-Are-Headed-To-China.html