The release of crude oil from the U.S. Strategic Petroleum Reserve, announced Tuesday by the Biden administration, comes at a time when the price of gasoline has become a major political issue and when there are some signs oil markets are setting up for a steady decline.
The U.S. will release 50 million barrels of oil from the Strategic Petroleum Reserve (SPR), a storehouse of oil that was created in the 1970s as protection against disruption of oil supplies. The overriding fear when the SPR was...
https://www.freightwaves.com/news/reserve-oil-being-released-into-market-that-may-have-peaked