Crude Oil Price Forecast: Why You Can’t Fight the SPR as Oil Slides Toward $80
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Key Points:
- OECD's 400 Mbbl release is anchoring prices; the taper runs hard through summer.
- Politics escalating: US sanctioned Iran's PGSA, Iran routed around via Oman, US threatened Oman.
- Brent -11.86% on the week is the release working; after it ends, the market underneath has to print.
Last week Brent: -11.86% (-$12.36). Open $97.50 High $97.81 Low $89.93 Close $91.89