Notable


More Oil&Gas companies throwing the Biden & Democrats under the bus…

Phillips 66 CEO: "you need to unleash the power of the U.S. energy business….we all like to see gasoline prices come down & these things that administration can do short term, unfortunately for them, they can't move the needle between now & November election in our view"

OIL MARKET: According to preliminary DoE data, the US released 6.9 million barrels of crude from its Strategic Petroleum Reserve last week (~985,000 b/d).

The latest weekly release has pushed the SPR below the 500 million barrels mark for the first time since 1986…

https://www.zerohedge.com/energy/biden-runs-us-strategic-oil-reserve-lowest-1986-uae-warns-not-expect-any-help-opec

Biden Drains US Strategic Oil Reserve To Lowest Since 1986; UAE Warns Not To Expect Any Help From OPEC

Continuing to do the same action and expecting different results is the Einsteinian definition of insanity… but that hasn't stopped the Biden administration in the case of its attack of his oil/gas prices.