Friday, July 13, 2018

Trump Administration Considering Tapping the Strategic Petroleum Reserve as Gasoline Prices Rise

Of course, if you were a subscriber to the EPJ Daily Alert, this would come as no surprise.

I wrote two weeks ago in the ALERT:
That said, it does show Trump's focus on oil. (This is Trump's third tweet on oil.) And thus there is the possibility that Trump will announce the sale of some oil into the open market from the US government's Strategic Petroleum Reserve if the oil price continues to climb.
And last week in the ALERT:
The United States may attempt in the short-run to thwart the advance and release some oil from the Strategic Petroleum Reserve.
I also provided strategy on how to trade such news.


1 comment:

  1. I'm confused. What happened to the fracking revolution that promised an end to $80+ oil prices forever? Pretty short lived revolution i guess.