As discussed on X22 Report
- Joe Biden’s decision to release 180 million barrels of oil from the US Strategic Petroleum Reserve – one million barrels per day for 180 days, ending just before the midterm elections which the Democrats will lose in an avalanche – was meant to help lower US gasoline prices. Instead, it is heading for Europe.
- the Suezmax ship Advantage Spring – sailing for Rotterdam, according to ship-tracking data compiled by Bloomberg – received emergency SPR sweet crude from Energy Transfer’s Nederland oil facility around April 1 for export.
- According to Matt Smith, oil analyst at commodity data firm Kpler, this is the first export of SPR crude since last November. Which means the oil was apportioned from Biden’s shock SPR release.