US Signals Another SPR Release As Stockpile Hits 1982 Low
5 Articles
5 Articles
Steep backwardation could prompt Energy Department to offer remaining 38.5M barrels under existing loan program, Chris Wright says, according to Argus Media
Energy Secretary Chris Wright stated that due to rising crude oil prices and sharp backward pricing in futures markets, there is a very strong possibility that the remaining 38.5 million barrels in the Strategic Petroleum Reserve will be available for loan.
Washington has already borrowed more than 130 million barrels, and due to the sharp rise in prices, it could also offer the remaining 38.5 million from a previously approved program. The United States could release additional quantities of crude oil from the Strategic Petroleum Reserve after rising prices and reduced short-term supply increased demand for oil available […]
US Signals Another SPR Release As Stockpile Hits 1982 Low
The US government could release another tranche of crude from the Strategic Petroleum Reserve as an unusually tight near-term oil market makes the remaining barrels under its March emergency authorization increasingly attractive. Energy Secretary Chris Wright said another round of SPR loans is a “very real possibility,” according to Argus Media, as immediate crude prices trade […]
US considers loaning more crude from SPR
A recent increase in crude prices has made it a "very real possibility" that the US Department of Energy (DOE) will offer an additional round of crude loans under a still ongoing 172mn bl drawdown from the US Strategic Petroleum Reserve (SPR), US energy secretary Chris Wright said.
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