Weekly Fundamentals: Oil Returns to Pre-SPR Levels

Commodities rebounded generally last week, mainly helped by Greece’s approval of the austerity measures and partly by some encouraging US economic data. Oil prices plunged earlier in the week after the IEA announced to release 60 mmb of strategic petroleum reserves (SPR) in 30 days. Yet, the impact faded as market sentiment improved later in the week and as the agency released more details of its plan.

Here is the original:
Weekly Fundamentals: Oil Returns to Pre-SPR Levels