US SPR release

Comes at juncture of historically lower domestic prices and ramp up of Iran sanctions

US SPR release US SPR release US SPR release US SPR release US SPR release
ANALYSTS are already closely questioning the timing and other factors surrounding the decision to sell 11 million barrels of oil from the US Strategic Petroleum Reserve release on Monday.
 
The crude from the US' emergency supply stockpiles will be released from three refineries in Texas and Louisiana. 
 
The barrels will be off to market in October and November, past the peak gasoline use of the US summer, but in time for US sanctions on Iran to kick into full force on November 4. 
 
If domestic prices are lower by the Northern Hemisphere autumn, US president Donald Trump will likely claim a victory but 11MMbbl represents just one fortnight of Iranian output.
 
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