Post by
Rational43 on Nov 17, 2021 12:05pm
Oil is down because Biden might release SPR reserves
The huge drop in oil and product inventories has increased concern that Biden "might" release SPR reserves, triggering a fall in oil prices in the market.
In other news:
The SPR inventories have declined in 10 straight weeks by a total of 15 million barrels, and are at their lowest level since 2003.
The SPR declined by 3.2 M barrels this past week, the largest one week withdrawal since the Libya crisis back in 2011.
Does the Media actually investigate anything anymore?
The DOE puts this data out weekly....
Comment by
NGSPADE on Nov 17, 2021 2:57pm
Do you have a link for this information that thae DOE puts out?
Comment by
Rational43 on Nov 17, 2021 3:56pm
https://www.eia.gov/petroleum/supply/weekly/