Last batch of US SPR release oil has been sold. Biden said he's ready to unleash more.<p>Via Reuters with a bit of a catch-up:</p><ul><li>The U.S. Department of Energy on Thursday said it sold 15 million barrels of oil from the Strategic Petroleum Reserve</li><li>completing the last batch of the largest-ever release from the stockpile</li></ul><p>And adds ...</p><ul><li>But the sale also bled the SPR, meant to be a protection against shocks in energy markets, to the lowest level since May 1984. </li><li>Biden said on October 19 the United States is ready to tap the SPR again early next year to rein in prices</li></ul>
This article was written by Eamonn Sheridan at forexlive.com.
Source: Last batch of US SPR release oil has been sold. Biden said he's ready to unleash more. (https://forexlive.com/news/last-batch-of-us-spr-release-oil-has-been-sold-biden-said-hes-ready-to-unleash-more-20221103/https://forexlive.com/news/last-batch-of-us-spr-release-oil-has-been-sold-biden-said-hes-ready-to-unleash-more-20221103/)
forexlive.com