{"id":14248,"date":"2011-06-27T07:25:59","date_gmt":"2011-06-27T05:25:59","guid":{"rendered":"http:\/\/bontrade.org\/blog49\/14248\/ieas-release-of-spr-bearish-for-oil-only-in-short-term\/"},"modified":"2011-06-27T07:25:59","modified_gmt":"2011-06-27T05:25:59","slug":"ieas-release-of-spr-bearish-for-oil-only-in-short-term","status":"publish","type":"post","link":"https:\/\/bontrade.org\/blog49\/14248\/ieas-release-of-spr-bearish-for-oil-only-in-short-term\/","title":{"rendered":"IEA's Release of SPR Bearish for Oil, Only in Short-Term"},"content":{"rendered":"

The most surprising and market-driving event last week was IEA's decision to release 60 mmb of strategic stocks over a 30-day period in July (2 mmb per day). After the announcement was made Thursday, each of WTI and Brent crude oil tumbled $10\/bbl while other commodities followed. Both the WTI-Brent and light \u2013heavy spread narrowed. We believe the move is bearish for oil prices in the short-term and the light-heavy spread would continue narrowing for some time. Yet, this is just a temporary fix to the long-term problem and we expect oil prices will rise again later in the year (i.e.:4Q11) as tightness in the market emerges again.<\/p>\n

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Original post:
\nIEA's Release of SPR Bearish for Oil, Only in Short-Term<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The most surprising and market-driving event last week was IEA's decision to release 60 mmb of strategic stocks over a 30-day period in July (2 mmb per day). After the announcement was made Thursday, each of WTI and Brent crude oil tumbled $10\/bbl while other commodities followed. Both the WTI-Brent and light \u2013heavy spread narrowed. We believe the move is bearish for oil prices in the short-term and the light-heavy spread would continue narrowing for some time. Yet, this is just a temporary fix to the long-term problem and we expect oil prices will rise again later in the year (i.e.:4Q11) as tightness in the market emerges again. <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lightning_design_setting":[],"footnotes":""},"categories":[1],"tags":[],"class_list":["post-14248","post","type-post","status-publish","format-standard","hentry","category-welcome-start-here-tradecrudeoilchatroom"],"_links":{"self":[{"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/posts\/14248","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/comments?post=14248"}],"version-history":[{"count":0,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/posts\/14248\/revisions"}],"wp:attachment":[{"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/media?parent=14248"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/categories?post=14248"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bontrade.org\/blog49\/wp-json\/wp\/v2\/tags?post=14248"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}