In its latest client note, Goldman Sachs analysts, “a release of oil from the US Strategic Petroleum Reserve (SPR) is now fully priced-in.”

Additional takeaways

“It would not help the slow global supply response that only higher oil prices can overcome.” 

“Prices would be likely to move higher still if such a release is confirmed and manages to keep oil prices depressed .. it would create clear upside risks to our forecast.”

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