Given that's how private/merchant tanks operate—buying in contango, selling in backwardation—what's the "strategic" differentiator of the SPR?

Is it a term structure threshold? Should the source of the market tightness play a role in a decision to release?

Given that's how private/merchant tanks operate—buying in contango, selling in backwardation—what's the "strategic" differentiator of the SPR?

Is it a term structure threshold? Should the source of the market tightness play a role in a decision to release?

I’m less excited by the prospect that they’ll do a weird lag-out of the data once publication resumes, putting out 2 weeks of data each week rather than just bulk-updating the whole history at once.

This is what happened last time and it was somehow worse than no data.

Beautiful! I have dreams of adding the doors (which I have in my shed) and hardware (and some moulding/router work), but I’m calling it for this stage lol

not enough functioning, market-accessible refining capacity!

echoes of '22/'23