U.S. oil reserve release will not guarantee lower pump prices: analysts

American drivers are unlikely to see prices at the pump fall if the Trump administration releases crude from the Strategic Petroleum Reserve (SPR) because U.S. oil production already is sky high, analysts said.

The potential release, ahead of the U.S. midterm elections in November, would aim to bring relief to customers who have seen gasoline jump 50 cents a gallon in the past year.

Even if the release temporarily sends futures contracts lower, there is no guarantee that pump prices would follow and remain down, according to analysts and market participants…

 

Click Here For Remainder of Article 

Posted in: Daily News

About the Author:

Post a Comment