The U.S. Energy Department awarded contracts to loan 45.2 million barrels of oil from the Strategic Petroleum Reserve. The SPR loan increases near-term crude supply and is likely to exert downward pressure on WTI/Brent in the short term; note this is a loan (barrels expected to be returned). Monitor front-month crude futures and market liquidity as the release is material for energy-sector pricing and flows.
The U.S. Energy Department awarded contracts to loan 45.2 million barrels of oil from the Strategic Petroleum Reserve. The SPR loan increases near-term crude supply and is likely to exert downward pressure on WTI/Brent in the short term; note this is a loan (barrels expected to be returned). Monitor front-month crude futures and market liquidity as the release is material for energy-sector pricing and flows.
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