U.S. Begins Buying Back Oil For Strategic Petroleum Reserve

[DEFCON Warning System]

The U.S. Energy Department said on Friday it will begin buying back oil for the Strategic Petroleum Reserve, or SPR, the first purchase since this year's record 180 million barrel release from the stockpile.

The department will buy up to 3 million barrels for delivery in February, a senior official told reporters.

U.S. begins buying back oil for strategic petroleum reserve -official

The U.S. Energy Department said on Friday it will begin buying back oil for the Strategic Petroleum Reserve, or SPR, the first purchase since this year's record 180 million barrel release from the stockpile.

www.reuters.com

 

[Irag8er]

U.S. begins buying back oil for strategic petroleum reserve -official

The U.S. Energy Department said on Friday it will begin buying back oil for the Strategic Petroleum Reserve, or SPR, the first purchase since this year's record 180 million barrel release from the stockpile.

www.reuters.com

Ok, so I’m neither a commodities trader, nor a futures trader.
Does this not become a form of price fixing for oil?
And an open invitation for “Insider trading” , for lack of a better term.

 

[Torch]

Sovereign immunity.
You or I would go to Jail, democrats get re-elected.
It the same thing, sans bars, if you think about it.

 

[Publius]

Sovereign immunity.
You or I would go to Jail, democrats get re-elected.
It the same thing, sans bars, if you think about it.

To be fair and transparent this is not just a democrat/Republican issue
It’s a have / have not power issue.

 

[Torch]

To be fair and transparent this is not just a democrat/Republican issue
It’s a have / have not power issue.

Absolutely!

 

[Irag8er]

To be fair and transparent this is not just a democrat/Republican issue
It’s a have / have not power issue.

Well, yeah ,kinda sorta but not really.

Remember when #Trump added to the #SPR Strategic
Oil Reserves? At less than $30brl. Another gift to @JoeBiden
And when @TheDemocrats blocked the purchase of 75M more?

https://twitter.com/x/status/1582786055438487552

 

[william]

Well, yeah ,kinda sorta but not really.

https://twitter.com/x/status/1582786055438487552

I believe it was less than $25 a barrel.