It's finally happening. The US Strategic reserves are now being drained. They can drain these babies up to 2 million barrels per day, but it looks like they only drained them 500,000 last week. They'll probably drain much faster up until the limit as oil prices hit sky high levels and Trump does everything he can to stem to rise.https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WCSSTUS1&f=W
It's $140 a barrel now. Not in the paper market, but for actual delivery, i.e. non-speculators, people that actually need it and can pay.
>>532238836Picrel doesn't look particularly spectacular.
>>532238836We're the biggest oil producer in the world. Why do we need reserves??
