The SPR is the lowest since 1982 but days should be the big concern.
Source: Mish Talk
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DW NOTE
The SPR held 714 million barrels in 2020. After serial political releases to suppress pump prices, it now covers fourteen days of consumption. That isn't a strategic reserve — it's a tank you empty when you care more about midterms than supply shocks.
Oil prices hit the $100 per barrel mark early on Wednesday in Asian trade as the ongoing crisis in the Middle East has diminished hopes of U.S.-Iran talks and a return to normal oil flows soon. As of early morning trade in Europe on Wednesday, the international benchmark, Brent Crude, jumped by 2.2
Bitcoin advanced to as high as $79,700 while Brent crude topped $100 and European shares fell, leaving crypto tracking gold rather than equities.
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