In response to Hurricane Gustav and the oil production that was taken offline as a result, the federal government announced that 250,000 barrels of oil would be released from the Strategic Petroleum Reserve:
Oil prices drop as US opens reserve taps
LONDON (AFP) – Oil prices fell on Wednesday as the US government decided to release crude [...]
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SPR is Being Tapped 
This Week in Petroleum 3-28-07
The supply situation is quickly coming to a head, and many questions will be answered in the coming weeks. Will OPEC increase oil production? Can they? Will there be any relief from rising gasoline prices? Will gasoline demand remain strong in the face of the recent price spike?
The trend at this time of the year [...]
This Week in Petroleum 11-15-07
2nd Update
Now, 30 minutes after the release of the report, the market is starting to react, and oil prices are falling. Are traders really that slow to react? Or is that some kind of mirage because there is a delay in getting trades executed and reported? I get the impression sometimes that I could make [...]
This Week in Petroleum 10-3-07
I almost never talk about distillates, which are hydrocarbons that are heavier than gasoline and are used to make diesel and heating oil. I don’t use heating oil or diesel, so I don’t think about this market too much, but I know that a lot of people do. And for those who do, it’s shaping [...]
