Possibly, although that does not explain natural gas prices.
It is also worth noting that even the SPR did not prevent a surge in energy price inflation earlier this year.
Without dismissing the role of the SPR in suppressing crude oil processing, the breadth of energy commodities across which we are seeing less than expected price inflation is unusual.
It might be a momentary blip...or it could be something more significant. No way to tell for certain just yet.
The draining of the strategic petroleum reserves and desperate retailers.
Don’t forget some of that reserve belongs to us Aussies. Please leave some for us.
Or is it more like a bank and you hope all the depositors don’t want it at the same time.
https://www.minister.industry.gov.au/ministers/taylor/media-releases/australia-boost-fuel-security-and-establish-national-oil-reserve
Possibly, although that does not explain natural gas prices.
It is also worth noting that even the SPR did not prevent a surge in energy price inflation earlier this year.
Without dismissing the role of the SPR in suppressing crude oil processing, the breadth of energy commodities across which we are seeing less than expected price inflation is unusual.
It might be a momentary blip...or it could be something more significant. No way to tell for certain just yet.
Won’t last for long.