Early SPR Release May Reflect Trump's Concern Over Oil Prices - Bloomberg:
The U.S. sale of 11 million barrels of oil from its emergency stockpile will likely do little to offset the impact of sanctions on Iran.
That timing of the sale -- with the barrels set to hit the market in October and November -- may reflect the White House’s concern over tight supplies amid the renewal of U.S. sanctions, according to analysts at ClearView Energy Partners LLC. The Trump administration has asked allies to halt all imports of Iranian oil by Nov. 4, stoking global supply fears. Yet an 11-million-barrel sale over two months likely won’t do much to offset the impact of sanctions, which the administration estimates will remove 700,000 to 1 million barrels a day of Iranian crude from the global market by early November.
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