Thursday , December 19 2024
Home / Mike Norman Economics / Oil Prices Top $111 As Biden’s SPR Buyback Plan Leaks — Charles Kennedy

Oil Prices Top $111 As Biden’s SPR Buyback Plan Leaks — Charles Kennedy

Summary:
The Biden Administration will purchase 60 million barrels of crude in Q3.CNN: Delivery of those first 60 million barrels would be paid for with revenue received from sales of emergency oil.The full process for replenishing the SPR will take years.OilpriceOil Prices Top 1 As Biden’s SPR Buyback Plan LeaksCharles Kennedy

Topics:
Mike Norman considers the following as important:

This could be interesting, too:

New Economics Foundation writes Moving forward

Dean Baker writes Health insurance killing: Economics does have something to say

NewDealdemocrat writes Retail Real Sales

Angry Bear writes Planned Tariffs, An Economy Argument with Political Implications

  • The Biden Administration will purchase 60 million barrels of crude in Q3.
  • CNN: Delivery of those first 60 million barrels would be paid for with revenue received from sales of emergency oil.
  • The full process for replenishing the SPR will take years.
Oilprice
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

Leave a Reply

Your email address will not be published. Required fields are marked *