There are a number of factors that have pushed oil prices into the stratosphere, but the rally may be becoming unsustainable. Russia’s war in Ukraine has created a particularly tight oil market, and it could […]
President Joe Biden is harming national security by ordering the release of massive amounts of oil from the Strategic Petroleum Reserve. The release is a cynical political move, but it will backfire. Biden announced Thursday he […]
WASHINGTON, (Reuters) – The U.S. Department of Energy has approved the twelfth exchange of 2,700,000 barrels of crude oil for release to ExxonMobil Corp (XOM.N) from the nation’s Strategic Petroleum Reserve, the department said in a […]
ENB Publishers Note: The SPR release is a political stunt. The average price for oil in the reserves is an estimated $29 per barrel. Coupled with releasing the sour crude that the refiners don’t want […]
Oil prices erased losses and jumped on Tuesday morning following the SPR release announcement Despite the seemingly big number, 50 million barrels, the U.S. release actually equals around two and a half days of American […]
It is funny how talking points and “Buzz” words get thrown out and stick to the wall like my wife testing if the spaghetti is cooked. Some of them that are unbearable is; Let’s circle […]
ENB Publishers Note: Releasing oil from the STRs of multiple countries will have an inverse effect on the long-term markets. Releasing the STRs that were purchased at lower price points will give the countries that […]
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