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US announces another drawdown of Strategic Petroleum Reserve before October 1st
3
Ṁ100Ṁ34
Sep 30
64%
chance

Based on official announcements of department of energy or other relevant authorities.

Context:

President Trump authorized the Department of Energy to release 172 million barrels from the Strategic Petroleum Reserve, beginning next week. This will take approximately 120 days to deliver based on planned discharge rates (March 11th, https://www.energy.gov/articles/united-states-release-172-million-barrels-oil-strategic-petroleum-reserve)

The US Strategic Petroleum Reserve as of July 10th is 316.5 million barrels, down from 415 million pre-war. The past weeks have seen decreases of 5-9 millions a week.

Some historical trends at https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=pet&s=mcsstus1&f=m, note that this is in thousands of barrels)

Market context
Iran
Energy
Oil
Iran USA war
Strait of Hormuz
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