Take A Step Back, What Would Have Happened If The US Didn't Use SPR This Year?

There is a pretty heated debate on Twitter right now about whether or not the US SPR release ending this year will be bullish or bearish. From the start, we have been in the camp that the US SPR release is a bearish event. Because instead of looking at inventories from an absolute sense, we have to look at them from the trader's perspective. 

Even if the…