Post by
Oldnagger on Nov 18, 2021 1:59am
SPR
The Oil markets are very concerned by Biden's plan for the SPR. Several things, first just like a bad poker player he has tipped his hand by putting out 3 million barrels as a swap . Second , The US can afford to reduce their strategic reserves as their net crude and product imports are essentially zero. Not at all the same situation for China. Third who really cares? Until the world brings their collective energy production capabilities up to match ever increasing demand, prices can only go up
Short term manipulation of the market will really amount to very little and even Biden must realize that the inevitable spring back will happen before the mid term elections next year !!
Opec+ crude is sold on Brent pricing , not WTI. One more reason I like VET !!
Comment by
PipelessPauper on Nov 18, 2021 3:16am
Spot on comment Nagger time is on or side. Bring it on Brandon!!
Comment by
SchoolNmoe42 on Nov 18, 2021 9:09am
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