3 ms·
I'm not 100% sure they did this but with the SPR you can actually smooth out the price curve for oil. Much of this period, the spot price of oil was high, but
by arcticbull 4y ago
I'm not 100% sure they did this but with the SPR you can actually smooth out the price curve for oil.
Much of this period, the spot price of oil was high, but oil for delivery 6-12 months out was much less expensive. The SPR could sell into the spot market but buy oil for delivery 6-12 months out. This actually could mean a much more sustained drop.