RE:RE:SPR Release ConfirmedThanks for this article. In it, Mr. Pelletier says,
"As a result, they have drained the SPR down to 1985 levels, leaving little room for future supply shocks. Instead, they are apparently choosing to sell to the Chinese who have been stockpiling crude reserves on their end."
By "Instead", I take it he means "Instead of replenishing the SPR". Then the rest of the article makes sense. There is no suggestion here that Mr. Pelletier is saying there is any plan to sell SPR barrels anytime soon--just the opposite.
Good bounce today into the green today for the WTI price--so far up $2.50+ from the day's low.